Short Answer
The quantity demanded x (in units of a hundred) of the miniature cameras per week is related to the unit price p (in dollars) by
and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by
If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. Please round the answers to the nearest dollar.
The consumers' surplus: $__________
The producers' surplus: $__________
Correct Answer:

Verified
Correct Answer:
Verified
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