consumer surplus and producer surplus
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Consumer and Producer Surplus: Find the consumer and producer surplus for the case below:
Demand: P1(x) = 1000 - 0.4x62
Supply: P2(x) = 42x.
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The solution shows how to find consumer surplus and producer surplus given the demand and supply equations. The solution is detailed and well presented.
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Find the consumer and producer surplus for the case below:
P1(x) = 1000 - 0.4x2 P2(x) = 42x
(1) find the equilibrium:
P1(x) = P2(x)
Only ...
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