Consumer surplus with supply and demand curves
Problem: Illustrate Producer and Consumer surplus with Supply and Demand Curves. Also a) Find the equilibrium price (where supply equals demand) b) Find the consumer's surplus and the producer's surplus at equilibrium by solving an Illustration.
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Illustrate Producer and Consumer surplus with Supply and Demand Curves. Also a) Find the equilibrium price (where supply equals demand) b) Find the consumer's surplus and the producer's surplus at equilibrium by solving an Illustration.
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