Market demand for rhododendrons in Ann Arbor is given by D (p) = 120 - 3p and the market supply is S (p) = 3p - 30. Show all your work to answer the questions below. (1) Calculate the equilibrium quantity and price. (2) Calculate the consumer surplus and the producer surplus.
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Home » Business » Market demand for rhododendrons in Ann Arbor is given by D (p) = 120 - 3p and the market supply is S (p) = 3p - 30. Show all your work to answer the questions below. (1) Calculate the equilibrium quantity and price.