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The price-demand equation for a particular flashlight is given by ( p=115-0.004 x ), where ( x ) is the number of flashlights demanded when
The price-demand equation for a particular flashlight is given by \\( p=115-0.004 x \\), where \\( x \\) is the number of flashlights demanded when the price is \\( p \\) dollars each. The flashlight manufacturers will produce no flashlights if the price is \\( \\$ 71 \\) or less, and they will market 6,000 flashlights when the price is \\( \\$ 95 \\) per flashlight. (Assume the pricesupply equation is linear.) (a) Find the consumers' surplus for this commodity. (b) Find the producers' surplus for this commodity. \\( \\ddagger \\)
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