MY NC The price-demand equation for a particular flashlight is given by p= 114 -0.004x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce flashlights if the price is $78 or less, and they will market 5,500 flashlights when the price is $100 per flashlight. (Assume the price-supply equation is linear.) (a) Find the consumers' surplus for this commodity. S (b) Find the producers' surplus for this commodity. S

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MY NC
The price-demand equation for a particular flashlight is given by p= 114 -0.004x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce
flashlights if the price is $78 or less, and they will market 5,500 flashlights when the price is $100 per flashlight. (Assume the price-supply equation is linear.)
(a) Find the consumers' surplus for this commodity.
S
(b) Find the producers' surplus for this commodity.
S
Transcribed Image Text:MY NC The price-demand equation for a particular flashlight is given by p= 114 -0.004x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce flashlights if the price is $78 or less, and they will market 5,500 flashlights when the price is $100 per flashlight. (Assume the price-supply equation is linear.) (a) Find the consumers' surplus for this commodity. S (b) Find the producers' surplus for this commodity. S
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