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Question

Find the consumer and producer surpluses by using the demand and supply functions, where p is the price

(in dollars) and x is the number of units (in millions).

Demand Function Supply Function

p = 270 − x

p = 120 + x

Top Answer

Hey there, The attempt... View the full answer

consumer surplus .jpg

Given that :
Demand function : p = 270 - x
Supply function : p= 120+ 2
[ p= price
n = units / quantity
We find the equilibrium to determine " n" and 's '
Demand = Supply
Price
Consumer...

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