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Find the Consumer and Producer Surpluses by Using the Demand                 ~~~~~~~~~~~~~~~~

Question 31

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Find the consumer and producer surpluses by using the demand and supply functions, where p is the price (in dollars) and x is the number of units (in millions) . Demand Function                 ~~~~~~~~~~~~~~~~ Supply Function
P=97523x           42xP = 975 - 23 x ~~~~~~~~~~~\quad 42 x


A) a. $2587.50b. $3725.00
B) a. $5587.50b. $4725.00
C) a. $2587.50b. $1725.00
D) a. $1587.50b. $4725.00
E) a. $3587.50b. $4725.00

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