Question #306086

The demand fuction p=4500-15Q2 and the supply function p=5Q2+2500. Determine the consumer and producer surplus


1
Expert's answer
2022-03-07T10:43:50-0500

p=4500−15q2,p=4500-15q^2,

p=5q2+2500,p=5q^2+2500,

20q2=2000,20q^2=2000,

q=10,q=10,

p=3000.p=3000.


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