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In each of Exercises 1-14, D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. 1. D(x) = −¾x + 9, S(x) = ½ x + 1 2. D(x) = − 3x + 7, S(x): = 2x + 2

In each of Exercises 1-14, D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. 1. D(x) = −¾x + 9, S(x) = ½ x + 1 2. D(x) = − 3x + 7, S(x): = 2x + 2

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter3: The Derivative
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I only need question #2 please not the first one. Thank you 

In each of Exercises 1-14, D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. 1. D(x) = −¾x + 9, S(x) = ½ x + 1 2. D(x) = − 3x + 7, S(x): = 2x + 2
Transcribed Image Text:In each of Exercises 1-14, D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. 1. D(x) = −¾x + 9, S(x) = ½ x + 1 2. D(x) = − 3x + 7, S(x): = 2x + 2
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