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A 000 is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the
A 000 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. 7 1 D(x)= - '\" 15, S(x)=x+3 v E) (a) Find the equilibrium point. E (Type an ordered pair, using integers or decimals.) (b) Find the consumer surplus at the equilibrium point. $I:I (Type an integer or a decimal.) (c) Find the producer surplus at the equilibrium point- $|:I (Type an integer or a decimal.)
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