Given: (x is number of items) Demand function: d(x) = 300 – 0.5x Supply function: s(x) = 0.3x Find the market demand (equilibrium quantity): Find the consumers surplus at the market demand:

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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Given: (x is number of items)
Demand function: d(x) = 300 – 0.5x
Supply function: s(x)
= 0.3x
Find the market demand (equilibrium quantity):
Find the consumers surplus at the market demand:
Transcribed Image Text:Given: (x is number of items) Demand function: d(x) = 300 – 0.5x Supply function: s(x) = 0.3x Find the market demand (equilibrium quantity): Find the consumers surplus at the market demand:
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