The Quantity Demanded (In Units of a Hundred) of the Miniature

question 41

Essay

The quantity demanded (in units of a hundred) of the miniature cameras per week is related to the unit price (in dollars) by and the quantity (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price (in dollars) by If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus.Please round the answers to the nearest dollar.
The consumers' surplus: $__________
The producers' surplus: $__________

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Definitions:

Rembrandt

A Dutch painter and etcher, one of the greatest storytellers in the history of art, known for his portraits and use of light and shadow; full name Rembrandt Harmenszoon van Rijn (1606–1669).

Return of the Prodigal Son

is a parable from the Bible symbolizing forgiveness and the unconditional love of a forgiving father, often illustrated in art and literature.

Focused Light

The use of light directed to a specific area or object to emphasize its importance or to create a particular mood or atmosphere.

Rembrandt

A Dutch painter and printmaker, considered one of the greatest visual artists in the history of art and the most important in Dutch art history.