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D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price,
D(x) is the price, in dollars per unit, that 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) = 1500 - 30x, S(x) = 450 + 5x . . . (a) What are the coordinates of the equilibrium point? (Type an ordered pair.) (b) What is the consumer surplus at the equilibrium point? s (Round to the nearest cent as needed.) (c) What is the producer surplus at the equilibrium point? s (Round to the nearest cent as needed.)
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