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. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) (x-72, s(x)-x+4x+31 (a) What are the coordinates of the equilibrium point? (1,36) (Type an ordered pair.) (b) What is the consumer surplus at the equilibrium point? S 6.33 (Round to the nearest cent as needed.) (c) What is the producer surplus at the equilibrium point? S 2.67 (Round to the nearest cent as needed.)
Show transcribed image text 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. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) (x-72, s(x)-x+4x+31 (a) What are the coordinates of the equilibrium point? (1,36) (Type an ordered pair.) (b) What is the consumer surplus at the equilibrium point? S 6.33 (Round to the nearest cent as needed.) (c) What is the producer surplus at the equilibrium point? S 2.67 (Round to the nearest cent as needed.)