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D(x) = 168 0.5x2 and S(x) = 0.25x2, where x is the number of hoodies (in hundreds) demanded and supplied and both D(x) and S(x)
D(x) = 168 0.5x2 and S(x) = 0.25x2, where x is the number of hoodies (in hundreds) demanded and supplied and both D(x) and S(x) a the hoodie prices in dollars. The equilibrium number of hoodies is 15 hundred and the equilibrium price is $56. (a) Find the consumer's surplus. If necessary, show decimals to 2 places. (b) Find the producer's surplus. If necessary, show decimals to 2 places. (7pts)7. A continuous flow of money comes into a business at the rate of $120,000 per year and is invested immediately as it is received into an account paying 6% interest compounded continuously for 15 years. What is the present value of this income stream? If necessary, show decimals to 2 places
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