Table 3.5 -Refer to Table 3.5.The Equations Above Describe the Demand and the Demand

question 231

Multiple Choice

Table 3.5
-Refer to Table 3.5.The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion.The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units.What is the value of economic surplus in this market?

• A)$600 thousand
• B)$1,050 thousand
• C)$1,500 thousand
• D)$2,100 thousand