University of Toledo Name: _______________ Department of Mathematics MAT 1730 Spring 2017 Online Written HW 13 To receive full credit you must show all work. You are allowed to use an approved graphing calculator unless otherwise indicated. 12pts total (2pts for each part) 1. D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. �(�) = (� − 3)2, �(�) = �2 + 2� + 1 a. Find the equilibrium point. b. the consumer surplus at the equilibrium point. c. the producer surplus at the equilibrium point. 2. D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. �(�) = 100�−1 2, �(�) = � 1 2 a. Find the equilibrium point. b. the consumer surplus at the equilibrium point. c. the producer surplus at the equilibrium point.

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