Question

Asked May 8, 2019

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Given the price-demand and price-supply equations below, find the producers' surplus at the equilibrium price level.

D(x)=p=20−0.9x

S(x)=p=15+0.1x

Round your answer to the nearest unit. Do not include a dollar sign or any commas in your answer.

Step 1

To calculate the equilibrium price level to the nearest unit. The price demand and price supply function are shown below,

Step 2

Now, for the equilibrium price level, equate both the func...

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