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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

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter6: Systems Of Equations And Inequalities

Section6.2: Two-variable Linear Systems

Problem 9ECP

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Question

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

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