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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,

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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, 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) = 8 - x, for O Sx58; S(x) = 1x+4 (a) What are the coordinates of the equilibrium point? (5,3) (Type an ordered pair.) (b) What is the consumers surplus at the equilibrium point? $ 12.50 (Round to the nearest cent as needed.) (c) What is the producer surplus at the equilibrium point? $ (Round to the nearest cent as needed.)

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