Answered: Consider the inverse demand and supply…

Consider the inverse demand and supply for dates to be given by P = 30-3Qd and P= 6+Qs. The total surplus in this competitive market is where is due to producers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Converse the demand

Consider the inverse demand and supply for dates to be given by P = 30-3Qd and P= 6+Qs. The
total surplus in this competitive market is
where
is due to producers.

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