1. The demand function for an electronics company's stereos is D(g) = 228.4 -18q and the supply function is S(q) = 27q+57.4 , where q is measured in thousands. a. At what price is the demand market in equilibrium? b. Compute the total surplus corresponding to this price.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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1. The demand function for an electronics company's stereos is D(q) = 228.4 –18q and the
supply function is S(q) = 27q+57.4 , where q is measured in thousands.
a. At what price is the demand market in equilibrium?
b. Compute the total surplus corresponding to this price.
Transcribed Image Text:1. The demand function for an electronics company's stereos is D(q) = 228.4 –18q and the supply function is S(q) = 27q+57.4 , where q is measured in thousands. a. At what price is the demand market in equilibrium? b. Compute the total surplus corresponding to this price.
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