Suppose that the market demand for 32-oz. wide mouth Nalgene bottles is Q = 50,000p-1.076, where Q

Question:

Suppose that the market demand for 32-oz. wide mouth Nalgene bottles is Q = 50,000p-1.076, where Q is the quantity of bottles per week and p is the price per bottle. The market supply is Q = 0.01p7.208. What is the equilibrium price and quantity? What is the consumer surplus? What is the producer surplus?

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