D(x) = 700 - 15x is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) = 200 + 5x is the price, in dollars per unit, that producers are willing to accept for x units of an item. Find: The equilibrium quantity: The equilibrium price: The consumer surplus at the equilibrium point: The producer surplus at the equilibrium point:
D(x) = 700 - 15x is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) = 200 + 5x is the price, in dollars per unit, that producers are willing to accept for x units of an item. Find: The equilibrium quantity: The equilibrium price: The consumer surplus at the equilibrium point: The producer surplus at the equilibrium point:
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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