2 Answered Questions for the topic Consumer And Producers
maximize U= e(x1+ In x2)^1/3
Find the consumer's and producer's surplus for an item with the following.
Supply: p=5q^2 Demand= 4800-q^2/3. Professor said this had multiple steps. I know you set Supply=Demand to get equilibrium but how do you solve for X and then after how do you find the consumers... more