Question #344025

demand function is Qd=100-2p and supply function is Qs=-60+3p

calculate consumer surplus and producer surplus


1
Expert's answer
2022-05-23T15:18:42-0400

Qd=Qs,Q_d=Q_s,

100−2P=−60+3P,100-2P=-60+3P,

5P=160,5P=160,

P=32,P=32,

Qd=Qs=36.Q_d=Q_s=36.


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