The demand and supply functions for oil on the world market are given as: 
and 
Calculate consumer surplus. If the Clinton Administration puts a price ceiling of $20 per unit, calculate the resulting consumer surplus. Are consumers better off?
Definitions:
Human Capital Stocks
The accumulated skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
Organizational Requirements
The necessary conditions, capabilities, resources, and systems an organization needs to achieve its objectives.
Resource Constraint
Limitations or restrictions on available resources, such as time, money, or manpower, which can affect project outcomes or business operations.
Scarcity
This refers to the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources.
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