Mathematics, 18.06.2020 03:57 pyromadestill
The supply function for oil is given (in dollars) by S(q), and the demand function is given (in dollars) by:
D(q)â‹…S(q)=q^2+13q
D(q)=992−17q−q^2
Required:
a. Graph the supply and demand curves on the same axes.
b. Find the point at which supply and demand are in equilibrium.
c. Find the consumers' surplus.
d. Find the producers' surplus.
Answers: 1
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