Table 4-13 -Refer to Table 4-13. the Equations Above Describe the Demand

question 197

Multiple Choice

Table 4-13

-Refer to Table 4-13. 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

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