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Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p=D(2) 95-2-0.027076 = dollars, which gives the price
Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p=D(2) 95-2-0.027076 = dollars, which gives the price per watch when z watches are demanded. The price-supply equation for the watch is given by p = S(x) = 0.9x+2 dollars, which gives the price per watch when watches are supplied. If the equilibrium quantity is 44, find the consumers' surplus and the producers' surplus. The consumers' surplus is (Your answer must begin with S.) The producers' surplus is (Your answer must begin with S.)
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