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Pls Help with both questions A study of a country's colleges and universities resulted in the demand equation q=20,0002p, where q is the enrollment at
Pls Help with both questions
A study of a country's colleges and universities resulted in the demand equation q=20,0002p, where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges. Officials at Enormous State University have developed a policy whereby the number of students it will accept per year at a tuition level of p dollars is given by q=6,400+0.5p. Find the equilibrium tuition price p and the consumers' and producers' surpluses at this tuition level. What is the total social gain at the equilibrium price? [Hint: See Example 3.] Show My Work (optional) ? -/4 Points] WANEFMAC8 14.4.038. A fast-food outlet finds that the demand equation for its new side dish, "Sweetdough Tidbit," is given by p=(q+1)254, where p is the price (in cents) per serving and q is the number of servings that can be sold per hour at this price. At the same time, the franchise is prepared to sell q=0.5p1 servings per hour at a price of p cents. Find the equilibrium price p, the consumers' surplus CS and the producers' surplus PS at this price level. What is the total social gain at the equilibrium price? equilibrium price consumers' surplus producers' surplus total social gain p= CS=PS= c c c c Show My Work (optlonal)
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