What is the value of producer surplus

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Reference no: EM131239321

Consider the following demand and supply equations: Q_d= 200-5p Q_s = -100+10p

a. What is the price and quantity in equilibrium?

b. Graph the supply and demand. (1) Label the equilibrium price and quantity (2) label the X & Y intercepts for the demand curve (3) label the y-intercept for the supply curve.

c. What is the value of consumer surplus?

d. What is the value of producer surplus?

e. What is the value of total surplus?

Reference no: EM131239321

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