Question

Market supply and demand for ovens are given by p=S(q)=1050+5q and p=D(q)=3500-30q. The equilbrium price is $1400 per oven.

(a) Find the market surplus up to equilbrium using the integral definition

(b) Verify the market surplus by calculating MS=CS+PS

a. The market surplus is $

b. Verify the market surplus using MS=CS+PS.

$___=$___+$___

(List the terms in the same order as they appear in the original list. Do not simplify. Type whole numbers)

Answer 1

ofa)a 3500-30p dlumand J lo50159 23500-307 397ワ8450

csa lo (350oo -30g)d to (2100 - Bo1)df 3500 350 5R)d [350-591% 350 1 - 2.592