Consider the following demand and supply equations qd, Business Economics

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Consider the following demand and supply equations qd

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?

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Business Economics: Consider the following demand and supply equations qd

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Business Economics: Consider the following demand and supply equations qd

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