Q2. Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1307−11p, p > 0 Let the market supply of widgets be given by: Q=S(p)=−4+8p, p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the
Q2. Assume that the
Q=D(p)=1307−11p, p > 0
Let the market supply of widgets be given by:
Q=S(p)=−4+8p, p > 0
where p is the
What is the
What is the
What is the consumer surplus at equilibrium? Please round the intercept to the nearest tenth and round your answer to the nearest integer.
What is the
What is the unmet demand at equilibrium? Please round your answer to the nearest integer.
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What is the unmet
Please round your answer to the nearest integer.
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