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Consider a market characterized by the following inverse demand and supply functions. PX = 10 - 2QdX and PX = 2 + 2QsX where PX
Consider a market characterized by the following inverse demand and supply functions. PX = 10 - 2QdX and PX = 2 + 2QsX where PX is the price of good X, QdX is the quantity demanded for good X and QsX is he quantity supplied for good X. Compute the surplus received by consumers and producers.
Select one:
a.$24 and $24, respectively.
b.none.
c.$2 and $6, respectively.
d.$4 and $4, respectively.
e.$6 and $2, respectively.
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