Solve a Consumers' or Producers' Surplus Problem.A sports watch has a price-demand equation given byp= D(z) = 40-2-0174176adollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given byp= S(x) = 0.6z+4dollars, which gives the price per watch when z watches are supplied. If the equilibrium quantity is 11, find the consumers' surplus andthe producers' surplus.The consumers' surplus is. (Your answer must begin with S.)The producers' surplus is Your answer must begin with $.)

Price- Demand equation: Price supply equation: Equilibrium quantity (x*) = 11Consumer surplus is the…

Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p=D(z)=40-2-0174176 dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by p= S(z)=0.6z+4 dollars, which gives the price per watch when z watches are supplied. If the equilibrium quantity is 11, find the consumers' surplus and the producers' surplus. The consumers' surplus is The producers' surplus is (Your answer must begin with $.) (Your answer must begin with $.)

Solve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p=D(z)=40-2-0174176 dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by p= S(z)=0.6z+4 dollars, which gives the price per watch when z watches are supplied. If the equilibrium quantity is 11, find the consumers' surplus and the producers' surplus. The consumers' surplus is The producers' surplus is (Your answer must begin with $.) (Your answer must begin with $.)

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.7: Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?

Problem 2ST

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