can you let me know if this is correct and not show me the answers. thanks Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant in acompetitive market. Further suppose that your economist gives you the following supply and demand functions:Demand:= 50-2PQDQS = -10 + P.Supply:What is the consumer surplus in this market?Consumer surplus is $25. (Enter your response rounded to two decimal places.)What is the producer surplus?Producer surplus is $50. (Enter your response rounded to two decimal places.)

Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lub competitive market. Further suppose that your economist gives you the following supply and demand f Demand: Qº Supply: QS = - What is the consumer surplus in this market? Consumer surplus is $25 (Enter your response rounded to two decimal places.) What is the producer surplus? Producer surplus is $50 (Enter your response rounded to two decimal places.) = 50-2P = -10 + P.

Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lub competitive market. Further suppose that your economist gives you the following supply and demand f Demand: Qº Supply: QS = - What is the consumer surplus in this market? Consumer surplus is $25 (Enter your response rounded to two decimal places.) What is the producer surplus? Producer surplus is $50 (Enter your response rounded to two decimal places.) = 50-2P = -10 + P.

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 10E

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