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Find the consumers' surplus and the producers' surplus at the equilibrium price level for the given supply and demand equations. The demand and the supply
Find the consumers' surplus and the producers' surplus at the equilibrium price level for the given supply and demand equations. The demand and the supply function for a product are as follows Demand: p = 200 - 0.4x and Supply: p = 100 + 1.6x. Once you arrive at a number for the consumers' and producers surplus, interpret what the number means. Show your work in calculating both the consumers' and producers' surplus to receive credit. In particular clearly indicate what your limits of integration are and what function your are integrating for each. You must use an integral to calculate consumer and producer's surplus to receive credit
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