Calculate the producers' surplus for the supply equation at the indicated unit price p.
p = 7 + 2q1/3; p = 20â
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Calculate the consumers' surplus at the indicated unit price p for the demand equation. Round your answer to the nearest cent.)
p = 8 â 2q1/3; p = 4
Calculate the consumers' surplus at the indicated unit price p
for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.)
p = 10 â 2q1/3; p = 8
Calculate the producers' surplus for the supply equation at the indicated unit price p. HINT [See Example 2.] (Round your answer to the nearest cent.) p = 7 + 2q^1/3; p = 16