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Given the demand function asQ=100-P 0.6 and supply function as Q=10+P 0.6 .Make sure youmake price the subject of the formula before you calculate equilibrium
Given the demand function asQ=100-P0.6and supply function as Q=10+P0.6.Make sure youmake price the subject of the formula before you calculate equilibrium price and equilibrium quantity
- Use integration to calculate consumer surplus at equilibrium
- Use integration to calculate producer surplus at equilibrium
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