The demand curve for a product is given by 4 = 80 – 2p and the supply curve is given by q = 3p – 60 . Enter the exact answers. (a) Find the consumer surplus at the equilibrium. Consumer surplus (b) Find the producer surplus at the equilibrium. Producer surplus %3D

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter3: Market Demand And Supply
Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency
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The demand curve for a product is given by 4 = 80 – 2p and the supply curve is given by q = 3p – 60 .
Enter the exact answers.
(a) Find the consumer surplus at the equilibrium.
Consumer surplus
(b) Find the producer surplus at the equilibrium.
Producer surplus
%3D
Transcribed Image Text:The demand curve for a product is given by 4 = 80 – 2p and the supply curve is given by q = 3p – 60 . Enter the exact answers. (a) Find the consumer surplus at the equilibrium. Consumer surplus (b) Find the producer surplus at the equilibrium. Producer surplus %3D
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