Question

Demand A:P=160−Q A

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Demand B:P=80−Q B
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The market supply is P=0.13Q Given this information, we can compute that the market equilibrium price is [Answer]. (In decimal numbers, with two decimal places, please.) Answer: Continue with the last question. The total consumer surplus at the equilibrium is [Answer]. (In decimal numbers, with two decimal places, please.) Answer:

Answer 1

To find the market equilibrium price, we need to set the quantity demanded equal to the quantity supplied and solve for the price.

For Demand A:

P = 160 - Q_A

For Demand B:

P = 80 - Q_B

Market Supply:

P = 0.13Q

Setting the quantity demanded equal to the quantity supplied:

Q_A + Q_B = 0.13Q

Now we can solve for Q:

Q_A + Q_B = 0.13Q

Q - Q_A - Q_B = 0

Since we don't have specific information about the quantities demanded for each demand curve, we cannot determine the exact market equilibrium price and total consumer surplus at equilibrium. The answer would depend on the specific values of Q_A and Q_B.