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Calculate the producer surplus

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Reference no: EM132565442

Consider a Market characterized by the following inverse demand and supply functions: Px=10-2Qx and Px=2+2Qx.

Question (a) Calculate the equilibrium price and equilibrium quantity. Please show your calculations.

Question (b) Calculate the consumer surplus and show you calculations.

Question (c) Calculate the producer surplus and show your calculations.

Reference no: EM132565442

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