Answer to Question #344025 in Microeconomics for Justy

Question

demand function is Qd=100-2p and supply function is Qs=-60+3p

calculate consumer surplus and producer surplus

Answer 1

$Q_d=Q_s,$

$100-2P=-60+3P,$

$5P=160,$

$P=32,$

$Q_d=Q_s=36.$