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*My answers below I only got partial credit on (3/6) can you help me solve the ones I do not know.* The Ministry of Tourism

*My answers below I only got partial credit on (3/6) can you help me solve the ones I do not know.*

The Ministry of Tourism in the Republic of Palau estimates that the demand for its scuba diving tours is given by QD=600020P where Q is the number of divers served each month and P is the price of a two-tank dive. The supply of scuba diving tours is given by QS=30P2000. Use negative signs where appropriate. Round to the nearest one-hundredth decimal place (0.01).

a. Find the equilibrium price and quantity.

Equilibrium Price: P*= 160

Equilibrium Quantity: Q*= 2800

b. Find the demand and supply choke prices.

Demand Choke Price: 2800

Supply Choke Price: 2800

c. Find Consumer Surplus

CS= 196000

d. Find Producer Surplus

PS= 130622

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