please show all work.  I only need part d.)

Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter2: Systems Of Linear Equations
Section2.4: Applications
Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...
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please show all work. 

I only need part d.) 

16) Find the consumers' surplus and the producers' surplus at the equilibrium price level for each pair of
price - demand and price - supply equations.
-.001x
p=D(x)=80e
:use the following window: xmin = 0, xmax = 700, ymin=0, ymax 100
p=S(x)=15+.0001x
a) Set the two equations equal to each other or use your calculator
to find the intersection point, p and x, and round to nearest whole number
b) Set up the integral for consumers' surplus and you can use your calculator techniques to solve.
c) Set up the integral for producers' surplus and you can use your calculator techniques to solve.
d) Interpret your answers to parts b & c
CS =
PS =
S Type here to search
919
Transcribed Image Text:16) Find the consumers' surplus and the producers' surplus at the equilibrium price level for each pair of price - demand and price - supply equations. -.001x p=D(x)=80e :use the following window: xmin = 0, xmax = 700, ymin=0, ymax 100 p=S(x)=15+.0001x a) Set the two equations equal to each other or use your calculator to find the intersection point, p and x, and round to nearest whole number b) Set up the integral for consumers' surplus and you can use your calculator techniques to solve. c) Set up the integral for producers' surplus and you can use your calculator techniques to solve. d) Interpret your answers to parts b & c CS = PS = S Type here to search 919
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