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Please help me out, thank you! 6. The price for sugar cane is D(q)=100020qq2 (in dollars per ton) when the demand for the product is
Please help me out, thank you!
6. The price for sugar cane is D(q)=100020qq2 (in dollars per ton) when the demand for the product is q tons. Also, suppose the function S(q)=q2+10q describes the price when the supply is q tons. Find the consumers' surplus and the producers' surplus. In addition, graph results on Desmos and label the areas for consumers' surplus and producers' surplus. Equilibrium Point Consumerssurplus=0q0[D(q)p0]dqProducerssurplus=0q0[p0S(q)]dq where (q0,p0) is the equilibrium point 6. The price for sugar cane is D(q)=100020qq2 (in dollars per ton) when the demand for the product is q tons. Also, suppose the function S(q)=q2+10q describes the price when the supply is q tons. Find the consumers' surplus and the producers' surplus. In addition, graph results on Desmos and label the areas for consumers' surplus and producers' surplus. Equilibrium Point Consumerssurplus=0q0[D(q)p0]dqProducerssurplus=0q0[p0S(q)]dq where (q0,p0) is the equilibrium pointStep by Step Solution
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