Suppose the Demand and Supply Curves for Shampoo Are Given

question 4

Multiple Choice

Suppose the demand and supply curves for shampoo are given by
Q^D = 18 - 5P
Q^S = -3 + 2P
Where Q^D is the quantity of shampoo demanded (in thousands of bottles) , Q^S is the quantity supplied, and P is the price of shampoo (in dollars per bottle) . The consumer surplus at the equilibrium price is ____.

• A) $9
• B) $900
• C) $450
• D) $4.50

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