Given: (x is number of items) Demand function: d(x) = 300 – 0.3x Supply function: s(æ) = 0.5x %3D Find the equilibrium quantity: 375 Preview Find the consumers surplus at the equilibrium quantity: Preview

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
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Given: (x is number of items)
Demand function: d(x) = 300 – 0.3x
Supply function: s(æ) = 0.5x
%3D
Find the equilibrium quantity: 375
Preview
Find the consumers surplus at the equilibrium quantity:
Preview
Transcribed Image Text:Given: (x is number of items) Demand function: d(x) = 300 – 0.3x Supply function: s(æ) = 0.5x %3D Find the equilibrium quantity: 375 Preview Find the consumers surplus at the equilibrium quantity: Preview
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