Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1491−12p Let the market supply of
Posted: Sun Jun 05, 2022 3:54 pm
Assume that the demand curve D(p) given below is the market
demand for widgets: Q=D(p)=1491−12p
Let the market supply of widgets be given by: Q=S(p)=−5+10p
Equilibrium Price: $68
Equilibrium Quantity: 675
A.) What is the consumer surplus at equilibrium? Please
round the intercept to the nearest tenth and round your answer to
the nearest integer.
B.) What is the producer surplus at equilibrium? Please
round the intercept to the nearest tenth and round your answer to
the nearest integer.
C.) What is the unmet demand at equilibrium? Please round
your answer to the nearest integer.
demand for widgets: Q=D(p)=1491−12p
Let the market supply of widgets be given by: Q=S(p)=−5+10p
Equilibrium Price: $68
Equilibrium Quantity: 675
A.) What is the consumer surplus at equilibrium? Please
round the intercept to the nearest tenth and round your answer to
the nearest integer.
B.) What is the producer surplus at equilibrium? Please
round the intercept to the nearest tenth and round your answer to
the nearest integer.
C.) What is the unmet demand at equilibrium? Please round
your answer to the nearest integer.