3.A certain good has its average revunue curve as, AR = 42 - 11Q and supply curve as, P= 7+ 12Q. Assuming pure competiotion and using integration, calculate the consumer surplus. Please give your answer in 2 decimal places. Assuming pure competition and using integration, calculate the producer surplus.

3.A certain good has its average revunue curve as, AR = 42 - 11Q and supply curve as, P= 7+ 12Q. Assuming pure competiotion and using integration, calculate the consumer surplus. Please give your answer in 2 decimal places. Assuming pure competition and using integration, calculate the producer surplus.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 10E

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