Find the Consumer Surplus and Producer Surplus $p = 100 - 0.03 x$

question 43

Multiple Choice

Find the consumer surplus and producer surplus. ​
Demand $p = 100 - 0.03 x$ ​
Supply $p = 35 + 0.1 x$ ​

• A)Consumer surplus: $3,750 Producer surplus: $12,800
• B)Consumer surplus: $3,750 Producer surplus: $12,500
• C)Consumer surplus: $3,750 Producer surplus: $12,600
• D)Consumer surplus: $3,750 Producer surplus: $12,900
• E)Consumer surplus: $3,750 Producer surplus: $12,700

---

Definitions:

Economic Profit

The split between total revenue generation and total cost accrual, encompassing both declared and understood costs.

Long-Run Adjustments

Adjustments that firms make over a period where all inputs can be varied, and there are no fixed factors of production.

Industry Supply

The total output of a particular good or service that all producers in the market are willing and able to sell at a given price level, over a specific time period.

Short-Run Market Supply

The total quantity of a good or service that producers are willing and able to sell at various prices over a short period, where some production factors are fixed.