For the supply function, s (x) = 100 – 100e 0.02r and the demand function, d (x) = 300e-0.01z %3D %3D a) Find the market demand (the positive value of x at which the demand function intersects the supply function using your calculator). Round your answer to 2 decimal places. b) Find the consumers' surplus at the market demand found in part a). Round your answer to 2 decimal places. c) Find the producers' surplus at the market demand found in part a). Round your answer to 2 decimal places.

For the supply function, s (x) = 100 – 100e 0.02r and the demand function, d (x) = 300e-0.01z %3D %3D a) Find the market demand (the positive value of x at which the demand function intersects the supply function using your calculator). Round your answer to 2 decimal places. b) Find the consumers' surplus at the market demand found in part a). Round your answer to 2 decimal places. c) Find the producers' surplus at the market demand found in part a). Round your answer to 2 decimal places.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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