good buoy ennq ardi one ang trigil oudi bre .yaws sup buoy broodbug ardi To ehey silicon role of gall bas , got s motled a ,esbia wol oder of zonil banob sdugnola abiw non I od of ebson (boulg ed of at is]) quil inon ori I ,xod stil jo ingit sill 10) The demand and supply for sofas can be described by the equations: mumixem blod of "(agiasb ord ni qall p = D(x) = -50x + 2000 p = S(x) = 10x + 500 where p is the price in dollars per sofa and x is the number of sofas. a) Find the equilibrium point (x, p). b) Find the consumers' surplus at the equilibrium price level and write the meaning. c) Find the producers' surplus at the equilibrium price level and write the meaning. d) Sketch p, the demand curve and supply curve on [0, 50, 10] x [0, 2000, 500]. Shade the areas which lov represent CS and PS. (8 pts)