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Demand for apartments in a certain town is D(x)=10603x, and the supply is S(x)=500+11x, where x is the number of apartments, in hundreds, and D(x)

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Demand for apartments in a certain town is D(x)=10603x, and the supply is S(x)=500+11x, where x is the number of apartments, in hundreds, and D(x) and S(x) are the rent in dollars per month, per apartment. a) Find the equlibrium point b) Find the consumer surplus and producer surplus. c) Suppose a maximum rent of $665 per month is imposed by the town council. Find the point (xC,PC). d) Find the new consumer surplus and new producer surplus. e) Find the deadweight loss. a) Which of the following would be the best first step to find the equilibrium point? Demand for apartments in a certain town is D(x)=10603x, and the supply is S(x)=500+11x, where x is the number of apartments, in hundreds, and D(x) and S(x) are the rent in dollars per month, per apartment. a) Find the equlibrium point b) Find the consumer surplus and producer surplus. c) Suppose a maximum rent of $665 per month is imposed by the town council. Find the point (xC,PC). d) Find the new consumer surplus and new producer surplus. e) Find the deadweight loss. a) Which of the following would be the best first step to find the equilibrium point

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