Suppose the Domestic Supply (Q^S) and Demand (Q^D) for Skateboards $$\begin{array} { l } Q ^ { 5 } = - 60 + 3 P \\Q ^ { D } = 390 - 2 P\end{array}$$

question 7

Multiple Choice

Suppose the domestic supply (Q^S) and demand (Q^D) for skateboards in the United States are given by the following set of equations: $$\begin{array} { l } Q ^ { 5 } = - 60 + 3 P \\Q ^ { D } = 390 - 2 P\end{array}$$ In the absence of trade with the rest of the world, the consumer surplus in the United States skateboard market equals _____ and the producer surplus equals_____.

• A)$7,050; $11,525
• B)$31,500; $9,450
• C)$20,474; $7,350
• D)$11,025; $7,350

---

Definitions:

Personal Space

The physical and psychological area an individual considers their own, preferring it to be free from intrusion by others.

Third Places

Public places that serve as informal gathering spots, distinct from one's home (first place) and work (second place), important for community building.

Public Places

Areas that are open and accessible to all members of a community, including parks, streets, and public buildings.

Informal

Lacking official procedures or rules; casual or unofficial in nature.