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1. A tire manufacturer estimates that q thousand radial tires will be purchase by wholesalers when...

1. A tire manufacturer estimates that q thousand radial tires will be purchase by wholesalers when the price is D ( q ) = − 0.1 q 2 + 90 dollars per time and the same number of tires will be supplied when the price is S ( q ) = 0.2 q 2 + 50.

a. Find the equilibrium price and the the quantity supplied and demanded at that price.

b. Determine the consumers' and producers' surplus at the equilibrium price.

Math   Calculus   
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