For Exercises 21 and 22 , graph each pair of demand and supply functions. Then: a. Find the equilibrium point using the intersect feature or another feature that will allow you to find this point of intersection. b. Graph y = D ( x E ) and identify the regions of both consumer and producer surpluses. c. Find the consumer surplus. d. Find the producer surplus. D ( x ) = 15 − 1 3 x , S ( x ) = 2 x 3
For Exercises 21 and 22 , graph each pair of demand and supply functions. Then: a. Find the equilibrium point using the intersect feature or another feature that will allow you to find this point of intersection. b. Graph y = D ( x E ) and identify the regions of both consumer and producer surpluses. c. Find the consumer surplus. d. Find the producer surplus. D ( x ) = 15 − 1 3 x , S ( x ) = 2 x 3
Solution Summary: The author calculates the equilibrium point for the provided demand function and supply function S(x)=2sqrt.
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