Given: (x is number of items) Demand function: d(x) = 588.7 — 0.2x² Supply function: s(x) = 0.5x² Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity:

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 43E
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Given: (x is number of items)
Demand function: d(x) = 588.7 -0.2x²
Supply function: s(x) = 0.5x²
Find the equilibrium quantity:
Find the consumers surplus at the equilibrium quantity:
Transcribed Image Text:Given: (x is number of items) Demand function: d(x) = 588.7 -0.2x² Supply function: s(x) = 0.5x² Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity:
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