12. D(x): = 1800 Vx+1 S(x) = 2√x + 1

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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12. D(x)
=
1800
√x + 1'
S(x) = 2√x + 1
Transcribed Image Text:12. D(x) = 1800 √x + 1' S(x) = 2√x + 1
In each of Exercises 1-14, D(x) is the price, in dollars per
unit, that consumers are willing to pay for x units of an item,
and S(x) is the price, in dollars per unit, that producers are
willing to accept for x units. Find (a) the equilibrium point,
(b) the consumer surplus at the equilibrium point, and (c) the
producer surplus at the equilibrium point.
Transcribed Image Text:In each of Exercises 1-14, D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point.
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