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3. The price-supply and price-demand equations of a certain product are given by p = S(x) = 15 + 0.1x + 0.003x2, p = D(x)

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3. The price-supply and price-demand equations of a certain product are given by p = S(x) = 15 + 0.1x + 0.003x2, p = D(x) = M - NX Suppose that the equilibrium price level is P55. [10] (a) Find the producer surplus at the equilibrium price level. (b) If the consumer surplus is equal to the producers surplus at the equilibrium price level, find M and N

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