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Business, 18.03.2020 02:36 michealbanks3

Demand SupplyP = 80 - Q^D P = 50 + 1/2Q^SQ^D = 80 - P Q^S = 2P - 100The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. The equilibrium price and quantity for Chef Ernie's sushi are $60 thousand and 20 thousand units.
(a) What is the value of economic surplus in this market?

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Demand SupplyP = 80 - Q^D P = 50 + 1/2Q^SQ^D = 80 - P Q^S = 2P - 100The equations above describe the...

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