Given: (x is number of items)Demand function: d(x) = 128 – 0.3x?Supply function: s(x) = 0.2a?Find the equilibrium quantity:Find the consumers surplus at the equilibrium quantity:

Answered: Given: (x is number of items) Demand…

Given: (x is number of items) Demand function: d(x) = 128 – 0.3x² Supply function: s(x) = 0.2a² Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity:

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 1QP

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Question

Given: (x is number of items)
Demand function: d(x) = 128 – 0.3x?
Supply function: s(x) = 0.2a?
Find the equilibrium quantity:
Find the consumers surplus at the equilibrium quantity:

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