D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find
(a)
the equilibrium point,
(b)
the consumer surplus at the equilibrium point, and
(c)
the producer surplus at the equilibrium point.
D(X)=(x-7)^2
S(x)=x^2+4x+31
Get Answers For Free
Most questions answered within 1 hours.