The quantity demanded x (in units of a hundred) of the miniature cameras per week is related to the unit price p (in dollars) by

and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by

If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. Please round the answers to the nearest dollar.

The consumers' surplus: $__________

The producers' surplus: $__________

Question

The quantity demanded x (in units of a hundred) of the miniature cameras per week is related to the unit price p (in dollars) by
​  ​
and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by
​  ​
If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. Please round the answers to the nearest dollar.
​
The consumers' surplus: $__________
​
The producers' surplus: $__________

Quizplus · Accepted Answer

The Answer of The quantity demanded x (in units of a hundred) of the miniature cameras per week is related to the unit price p (in dollars) by
​  ​
and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by
​  ​
If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. Please round the answers to the nearest dollar.
​
The consumers' surplus: $__________
​
The producers' surplus: $__________

The Quantity Demanded X (In Units of a Hundred) of the Miniature