Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p= D(x) = 60-27 dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by p= S(x) = x + 5 dollars, which gives the price per watch when a watches are supplied. If the equilibrium quantity is 41, find the consumers' surplus and the producers' surplus. The consumers' surplus is $4853.52 (Your answer must begin with S.) The producers' surplus is -0.00934948z (Your answer must begin with S.)
Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p= D(x) = 60-27 dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by p= S(x) = x + 5 dollars, which gives the price per watch when a watches are supplied. If the equilibrium quantity is 41, find the consumers' surplus and the producers' surplus. The consumers' surplus is $4853.52 (Your answer must begin with S.) The producers' surplus is -0.00934948z (Your answer must begin with S.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.3: Lines
Problem 92E
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![Solve a Consumers' or Producers' Surplus Problem.
A sports watch has a price-demand equation given by
p=D(x) = 60-27
dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by
p= S(x) = x +5
dollars, which gives the price per watch when a watches are supplied. If the equilibrium quantity is 41, find the consumers' surplus and the producers' surplus.
The consumers' surplus is $4853.52. (Your answer must begin with $.)
The producers' surplus is
-0.00934948z
(Your answer must begin with $.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71e00fed-fbfc-4ce9-b7ec-b9bdb0f9060f%2F982c548f-73ef-4736-a5b3-841bd93ea6df%2Fvoxn49_processed.png&w=3840&q=75)
Transcribed Image Text:Solve a Consumers' or Producers' Surplus Problem.
A sports watch has a price-demand equation given by
p=D(x) = 60-27
dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by
p= S(x) = x +5
dollars, which gives the price per watch when a watches are supplied. If the equilibrium quantity is 41, find the consumers' surplus and the producers' surplus.
The consumers' surplus is $4853.52. (Your answer must begin with $.)
The producers' surplus is
-0.00934948z
(Your answer must begin with $.)
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