5) Given the price-demand and price-supply equations below, determine the equilibrium price and find the consumers' surplus at the equilibrium price level. D(x)=p=20-0.7x² S(x)=p=2+0.01x²

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 18T
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Question 5
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5) Given the price-demand and price-supply equations below, determine the
equilibrium price and find the consumers' surplus at the equilibrium price level.
D(x)=p=20-0.7x²
S(x)=p=2+0.01x²
fro
insert
6
Y
17
&
4-
N
7.
U
*
00
8
(
9
O
O
A4
1
=
Transcribed Image Text:3/7 100% + 5) Given the price-demand and price-supply equations below, determine the equilibrium price and find the consumers' surplus at the equilibrium price level. D(x)=p=20-0.7x² S(x)=p=2+0.01x² fro insert 6 Y 17 & 4- N 7. U * 00 8 ( 9 O O A4 1 =
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