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Algebra
Question

For a particular commodity, the quantity produced ...

For a particular commodity, the quantity produced and the unit price are given by the coordinates of the point where the supply and demand curves intersect. Determine the point of intersection \( ( A , B ) \) and the consumers' and producers' surplus at that point. Demand curve: \( p = 49 - \frac { x } { 25 } \) ; Supply curve: \( p = 10 + \frac { 9 x } { 100 } \)

Click the icon to view a graph of sample supply and demand curves. The point of intersection is \(\square\).

Answer

(300,37)

Solution
View full explanation on CameraMath App.