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Suppose that in a market inverse supply is given by P S (Q) = Q2 + 2Q + 10 and inverse demand is given by

Suppose that in a market inverse supply is given by P S (Q) = Q2 + 2Q + 10 and inverse demand is given by P D(Q) = 928 5Q.

a) (3 marks) Find the equilibrium price and quantity supplied.

b) (6 marks) Compute consumer surplus.

c) (6 marks) Compute producer surplus.

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