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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+2 S(x) = ex -6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)

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+2 S(x) = ex -6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 17EQ
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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+2 S(x) = e x-6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)
Transcribed Image Text: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+2 S(x) = e x-6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)
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