Please do 7-10 ASAP
Submit Answer 7. [-/1 Points] DETAILS TAMUBUSCALC1 4.6.007. 0/6 Submissions Used MY NOTES A particular commodity has a price-demand equation given by p = v 23,914 - 411x, where x is the amount in pounds of the commodity demanded when the price is p dollars per pound. (a) Find consumers' surplus if the equilibrium quantity is 50 pounds. (Round your answer to the nearest cent if necessary.) (b) Find consumers' surplus if the equilibrium price is 21 dollars. (Round your answer to the nearest cent if necessary.) Submit Answer 8. [-/1 Points] DETAILS TAMUBUSCALC1 4.6.008. 0/6 Submissions Used MY NOTES A particular commodity has a price-supply equation given by p = 362(1.038)*, where x is the numbers of items of the commodity demanded when the price is p dollars per item. (a) Find producers' surplus if the equilibrium quantity is 57 items. (Round your answer to the nearest cent if necessary.) $ (b) Find producers' surplus if the equilibrium price is 2,552 dollars. (Round your answer to the nearest cent if necessary.) Submit Answer 9. [-/1 Points] DETAILS TAMUBUSCALC1 4.6.009. 0/6 Submissions Used MY NOTES A popular three-story dollhouse has a price-demand equation given by p = D(x) = 179 - 0.6x and the price-supply equation is given by p = S(x) = 0.4x + 129, where x is the number of dollhouses demanded/supplied when the price is p dollars each. (Round your answers to the nearest cent if necessary.) (a) Find the consumers' surplus for the dollhouses. $ (b) Find the producers' surplus for the dollhouses. Submit Answer 10. [0/1 Points] DETAILS PREVIOUS ANSWERS TAMUBUSCALC1 4.6.010. 1/6 Submissions Used MY NOTES The price-demand equation for a particular flashlight is given by p = 118 - 0.004x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce no flashlights if the price is $76 or less, and they will market 5,500 flashlights when the price is $98 per flashlight. (Assume the price-supply equation is linear.) (a) Find the consumers' surplus for this commodity. $ 0 X (b) Find the producers' surplus for this commodity $ 0 X Submit