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D(x) is the price, in dollar per unit, that the consumers are willing to pay for x units of an item, and S(x) is the
D(x) is the price, in dollar per unit, that the consumers are willing to pay for x units of an item, and S(x) 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.
D(x)=(x-7)^2, S(x)=x^2+2x+33
Find:
A) The equilibrium point
B) The consumer surplus at the equilibrium point
C) The producer surplus at the equilibrium point
*PLEASE ROUND TO THE NEAREST CENT AS NEEDED
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