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3. this is slightly economics related the demand equation for a...

# Question: this is slightly economics related the demand equation for a...

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This is slightly economics related

The demand equation for a market is given by p(q + 3) = 15 and, for some constant α, the supply equation is q = αp − 1 where p is the price and q is the quantity. Given that the equilibrium price for this market is three, determine the equilibrium quantity and the value of α. Find the consumer and producer surpluses.