Find the Consumer Surplus for the Pair of Demand and Supply

question 92

Multiple Choice

Find the consumer surplus for the pair of demand and supply equations below. $\begin{array} { l l } p = 75 - 0.00002 x & \text { Demand } \\p = 30 + 0.00003 x & \text { Suppply }\end{array}$

• A)$12,150,000
• B)$8,100,000
• C)$24,300,000
• D)$4,050,000
• E)$6,075,000

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Definitions:

Market

The environment in which goods and services are exchanged between buyers and sellers, often influenced by supply and demand.

Toughness

The quality of being strong and resilient; the ability to withstand stress or hardship.

Difficult Choices

These refer to challenging decisions that often involve a degree of sacrifice or risk, and are typically made in complex situations with significant consequences.

Unsympathetic Attitude

A lack of compassion or understanding towards others' situations or feelings, often resulting in a disconnect or negative interactions.