The Management of the Titan Tire Company Has Determined That

question 190

Multiple Choice

The management of the Titan Tire Company has determined that the quantity demanded x of their Super Titan tires/week is related to the unit price p by the relation ​ ​
Where p is measured in dollars and x is measured in units of a thousand. Titan will make x units of the tires available in the market if the unit price is
​ ​
Dollars. Determine the consumers' surplus and the producers' surplus when the market unit price is set at the equilibrium price. Round your answers to the nearest dollar.
​

• A) CS = $337,012 , PS = $166,346
• B) CS = $342,567 , PS = $171,901
• C) CS = $343,476 , PS = $172,810
• D) CS = $341,333 , PS = $170,667

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