State the market price is set at the equilibrium price

Reference no: EM13201208

If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus?(Round your answers to the nearest dollar.)

The quantity demanded x (in units of a hundred) of the Mikado miniature cameras/week is related to the unit price p (in dollars) by
p = -0.2x2 + 80 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
p = 0.1x2 + 2.2x + 56

Reference no: EM13201208

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