Find the Consumer Surplus and Producer Surplus $p = 100 - 0.00006 x$

question 18

Multiple Choice

Find the consumer surplus and producer surplus.
Demand $p = 100 - 0.00006 x$
Supply $p = 90 + 0.00004 x$

• A)Consumer surplus: $300,100Producer surplus: $ 200,100
• B)Consumer surplus: $300,050Producer surplus: $200,200
• C)Consumer surplus: $300,200Producer surplus: $200,300
• D)Consumer surplus: $300,150Producer surplus: $200,400
• E)Consumer surplus: $300,000Producer surplus: $200,000

---

Definitions:

Normative Economic Statement

Statements that reflect opinions, beliefs, or values about what the economy should be like, rather than what it actually is.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Energy Prices

The cost of energy resources, such as oil, gas, and electricity, which can fluctuate based on supply and demand.

Automobile Companies

Businesses involved in the design, development, manufacturing, marketing, and selling of motor vehicles.