Calculate consumer surplus. find the market equilibrium, Ask an Expert

Economics

Suppose that the market for wheat is characterized by the following demand and supply relationships:

Demand: Q=30,000-20P
Supply: Q=80P

find out consumer surplus
Find the market equilibrium quantity of brishels of wheat and tyhe market equilibrium price.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M941327

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