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any help is appreciated. thank you 7. (25 points) For a certain item the demand curve is given by 20 p = D(:) = r+1

any help is appreciated. thank you

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7. (25 points) For a certain item the demand curve is given by 20 p = D(:) = r+1 and the supply curve is given by p = S(x) = 1+2. (a) Use Matlab to graph the demand curve and supply curve on the same set of axes. Attach the graph to the end of this exam. (b) Find the equilibrium price and equilibrium quantity using algebra. Verify your answer by using your plot in part (a). (c) Compute the consumer surplus at the equilibrium price. (d) Compute the producer surplus the equilibrium price

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