Find the Consumer Surplus and Producer Surplus $p = 70 - 0.5 x$

question 50

Multiple Choice

Find the consumer surplus and producer surplus. ​
Demand $p = 70 - 0.5 x$ ​
Supply $p = 0.125 x$ ​

• A)Consumer surplus: $3136 Producer surplus: $784
• B)Consumer surplus: $3286 Producer surplus: $784
• C)Consumer surplus: $3236 Producer surplus: $784
• D)Consumer surplus: $3186 Producer surplus: $784
• E)Consumer surplus: $3336 Producer surplus: $784

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Definitions:

Service Revenue

Income earned by a company for the services it provides to its clients.

Adjusting Entries

Journal entries made at the end of an accounting period to update certain accounts and report revenues and expenses in the appropriate period.

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life.

Supplies Expense

An accounting term referring to the cost of supplies consumed or used by a business within a reporting period.