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Suppose Market demand is given by the equation Qd=24-4p. tires are supplied according to the market...

Suppose Market demand is given by the equation Qd=24-4p. tires are supplied according to the market supply equation Qs=4p

a. find the equilibrium price and output and draw the demand and supply curves in the equilibrium market

b. find the consumer surplus, producer surplus and total surplus

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Answer #1

equilibrum price and output od=85 when p=3 24-4P = 4p. 8 = 26 483 6 = 12 units equilibrium price is 36 and output is 12 whild3 cos ; p.S and Motal cos Surplus. - p* q* B pe & qe are C.S dig dq عنه معطلهم and quanhly Sat -6) dg 12x3 6 - Qd - 1273 30 43 - د - قم 3- تا 5 - * _______ - 2 - ا ب کے و گرم - و رات د - = 5. 4) - تمیز در بارور - . - =

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