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Dtx} is the price: in dollars per unit, that consumers are willing to pay for x units of an item: and Stx] is the price:
Dtx} is the price: in dollars per unit, that consumers are willing to pay for x units of an item: and Stx] 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. 2 1 D(x): _X+14' S{x):x+4 {:3} Find the equilibrium point. I: {Type an ordered pair: using integers or decimals.) {bl Find the consumer surplus at the equilibrium point. 5:| {Type an integer or a decimal.) {c} Find the producer surplus at the equilibrium point. 5:| {Type an integer or a decimal.)
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