Solution: Consumer and Producer Surpluses: Given the demand function p_1(x)=50-0.5 x and the supply function p_2(x)=0.125 x, find the consumer and producer


Question: Consumer and Producer Surpluses: Given the demand function \(p_{1}(x)=50-0.5 x\) and the supply function \(p_{2}(x)=0.125 x\), find the consumer and producer surpluses.

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