In Problems 77 − 84, find the consumers’ surplus and the producers’ surplus at the equilibrium price level for the given price- demand and price–supply equations. Include a graph that identifies the consumers’ surplus and the producers’ surplus. Round all values to the nearest integer. 77 . P = D ( x ) = 50 − 0.1 x ; P = S ( x ) = 11 + 0.05 x
In Problems 77 − 84, find the consumers’ surplus and the producers’ surplus at the equilibrium price level for the given price- demand and price–supply equations. Include a graph that identifies the consumers’ surplus and the producers’ surplus. Round all values to the nearest integer. 77 . P = D ( x ) = 50 − 0.1 x ; P = S ( x ) = 11 + 0.05 x
Solution Summary: The author compares the consumers' and producers' surpluses based on the price-demand equation.
In Problems 77−84, find the consumers’ surplus and the producers’ surplus at the equilibrium price level for the given price- demand and price–supply equations. Include a graph that identifies the consumers’ surplus and the producers’ surplus. Round all values to the nearest integer.
77.
P
=
D
(
x
)
=
50
−
0.1
x
;
P
=
S
(
x
)
=
11
+
0.05
x
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