5. [-I16.66 Points] WANEFMAC7 14.4.015. PRACTICE ANOTHER Calculate the producers' surplus (in dollars) for the supply equation at the indicated unit price 5. (Round your answer to the nearest cent.) p=7+2q1/3; p=14 Need Help? 6. [0/16.7 Points] PREVIOUS ANSWERS WANEFMAC714.4.037. PRACTICE ANOTHER A study of a country's colleges and universities resulted in the demand equation q = 20,000 2p, where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges Ofcials at Enormous State University have developed a policy whereby the number of students it will accept per year at a tuition level ofp dollars is given by q = 7,900 + 0.5g. Find the equilibrium tuition price 5 and the consumers' and producers' surpluses at this tuition level. What is the total social gain at the equilibrium price? HINT [See Example 3.] equilibrium tuition price E = $ 4,000 x consumers' surplus C5 = $ producers' surplus P5 = $ total social gain $ Need Help