Answer to Question #270188 in Algebra for Enchimm

Question #270188

7. Given the demand function

P = - Q_{b} ^ 2 - 4Q_{b} + 68

and the supply function

P = Q_{s} ^ 2 + 2Q_{s} + 12

Find

(a) the consumer's surplus

(b) the producer's surplus

assuming pure competition.

Expert's answer

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