Determine producer surplus at equilibrium point


D(x) is price, in dollars per unit, which consumers are eager to pay for x units of the item. S(x) is price, in dollars per unit, which producers are eager to accept for x units. Determine (a) equilibrium point, (b) consumer surplus at equilibrium point, and (c) producer surplus at equilibrium point. D(x) = (x-3)^2, S(x) = x^2 + 2x + 1.

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Mathematics: Determine producer surplus at equilibrium point
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