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Press to exit full screen Math 1131 Questions for Consumers' and Producers' Surplus lecture For questions (1) and (2), for the given demand and supply
Press to exit full screen Math 1131 Questions for Consumers' and Producers' Surplus lecture For questions (1) and (2), for the given demand and supply functions: (a) Find the equilibrium point (qo,p0). (b) Setup and evaluate an integral to determine the consumers' surplus under market equilibrium. (c) Setup and evaluate an integral to determine the producers' surplus under market equilibrium. (1). The demand equation for a product is mm:nm and the supply equation is $(q) : 4q + 6 (2). The demand equation for a product is D(q) = 0.01q2 1.4q + 46 and the supply equation is $(q) = 0.01q2 + 4
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