A price ceiling is given along with demand and supply functions, where D(x) is the price, in dollars per unit, that consumers will pay for x units, and S(x) is the price, in dollars per unit, at which producers will sell x units. Find (a) the equilibrium point, (b) the point (Xc Pc). (c) the new consumer surplus, (d) the new producer surplus, and (e) the deadweight loss. D(x)= 78-x, S(x)= 30 + 0.5x, Pc $41 a) Find the equilibrium point. (Type an ordered pair.) b) Find the point (XC Pc) (Type an ordered pair.) c) Find the new consumer surplus. (Type an integer or decimal rounded to two decimal places as needed.) d) Find the new producer surplus. (Type an integer or decimal rounded to two decimal places as needed.) e) Find the deadweight loss. (Type an integer or decimal rounded to two decimal places as needed.)

A price ceiling is given along with demand and supply functions, where D(x) is the price, in dollars per unit, that consumers will pay for x units, and S(x) is the price, in dollars per unit, at which producers will sell x units. Find (a) the equilibrium point, (b) the point (Xc Pc). (c) the new consumer surplus, (d) the new producer surplus, and (e) the deadweight loss. D(x)= 78-x, S(x)= 30 + 0.5x, Pc $41 a) Find the equilibrium point. (Type an ordered pair.) b) Find the point (XC Pc) (Type an ordered pair.) c) Find the new consumer surplus. (Type an integer or decimal rounded to two decimal places as needed.) d) Find the new producer surplus. (Type an integer or decimal rounded to two decimal places as needed.) e) Find the deadweight loss. (Type an integer or decimal rounded to two decimal places as needed.)

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency

Problem 6SQ

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