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Question #22 (6 points) - In the following question, D(x) is the price (in dollars per unit) that consumers will pay for x units of
Question #22 (6 points) - In the following question, D(x) is the price (in dollars per unit) that consumers will pay for x units of an item. The function S(x) is the price (in doallrs per unit) that producers will accept for x units of an item. D(x) = (x-3)' S(x)=x+2x+1 a) Find the equilibrium point b) Find the consumer surplus at the equilibrium point c) Find the producer surplus at the equilibrium point
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