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. D(x) =e x+4.5 S(x) =ex-9.5 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point.
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. D(x) =e x+4.5 S(x) =ex-9.5 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point.
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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