(a) If p denotes the equilibrium price, then the consumer surplus at any price higher than p must be less than or equal to the consumer surplus at price p. OTrue OFalse (b) If p denotes the equilibrium price, then the producer surplus at any price lower than p must be less than or equal to the producer surplus at price p. True OFalse The demand and supply functions for Penn State ice hockey jerseys are: p = d(x) = -x2 10x + 732 p = s(x) = 5x2 + 2x + 12 where x is the number of hundreds of jerseys and p is the price in dollars. (a) Find the equilibrium quantity. Equilibrium quantity, X = which corresponds to jerseys. (b) Compute the total surplus at the equilibrium point. Total surplus = dollars