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For a given commodity and pure competition, the number of units produced and the price per unit are determined as the coordinates of the point of intersection of the supply and demand curves. Given the demand curve p = 90 X and the supply curve p = 50 + find the consumer surplus and the producer surplus. 10 consumer surplus $ producer surplus $ Illustrate by sketching the supply and demand curves and identifying the surpluses as areas. P O 100 80 60 40 20 P 120 100 80 60 40 X 30 20 Producer Surplus Consumer Surplus 100 200 Producer Surplus 100 300 Consumer Surplus 200 300 X X 100 80 P 60 40 20 P 120 100 80 60 40 20 100 100 Consumer Surplus Producer Surplus 200 Consumer Surplus Producer Surplus 200 300 300 X

For a given commodity and pure competition, the number of units produced and the price per unit are determined as the coordinates of the point of intersection of the supply and demand curves. Given the demand curve p = 90 X and the supply curve p = 50 + find the consumer surplus and the producer surplus. 10 consumer surplus $ producer surplus $ Illustrate by sketching the supply and demand curves and identifying the surpluses as areas. P O 100 80 60 40 20 P 120 100 80 60 40 X 30 20 Producer Surplus Consumer Surplus 100 200 Producer Surplus 100 300 Consumer Surplus 200 300 X X 100 80 P 60 40 20 P 120 100 80 60 40 20 100 100 Consumer Surplus Producer Surplus 200 Consumer Surplus Producer Surplus 200 300 300 X

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
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For a given commodity and pure competition, the number of units produced and the price per unit are determined as the coordinates of the point of intersection of the supply and demand curves. Given the demand curve p = 90- and the supply curve p = 50+ X X find the consumer surplus and the producer surplus. 30 10 consumer surplus $ producer surplus $ Illustrate by sketching the supply and demand curves and identifying the surpluses as areas. O P 100 80 60 40 20 P 120 100 80 60 40 20 Producer Surplus Consumer Surplus 100 200 Producer Surplus 100 300 Consumer Surplus 200 300 X 100 80 P 60 40 20 P 120 100 80 60 40 20 100 100 Consumer Surplus Producer Surplus 200 Consumer Surplus Producer Surplus 200 300 300 X
Transcribed Image Text:For a given commodity and pure competition, the number of units produced and the price per unit are determined as the coordinates of the point of intersection of the supply and demand curves. Given the demand curve p = 90- and the supply curve p = 50+ X X find the consumer surplus and the producer surplus. 30 10 consumer surplus $ producer surplus $ Illustrate by sketching the supply and demand curves and identifying the surpluses as areas. O P 100 80 60 40 20 P 120 100 80 60 40 20 Producer Surplus Consumer Surplus 100 200 Producer Surplus 100 300 Consumer Surplus 200 300 X 100 80 P 60 40 20 P 120 100 80 60 40 20 100 100 Consumer Surplus Producer Surplus 200 Consumer Surplus Producer Surplus 200 300 300 X
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