Find the Consumer Surplus and Producer Surplus $p = 100 - 0.00006 x$

question 14

Multiple Choice

Find the consumer surplus and producer surplus. ​
Demand $p = 100 - 0.00006 x$ ​
Supply $p = 90 + 0.00004 x$ ​

• A)Consumer surplus: $300,100 Producer surplus: $ 200,100
• B)Consumer surplus: $300,050 Producer surplus: $200,200
• C)Consumer surplus: $300,200 Producer surplus: $200,300
• D)Consumer surplus: $300,150 Producer surplus: $200,400
• E)Consumer surplus: $300,000 Producer surplus: $200,000

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Definitions:

Pull Manufacturing

An important lean practice in which products are manufactured only as they are needed by the customer.

Production Schedules

Timetables that outline the sequence and duration of tasks or operations in the manufacturing process.

Customer Orders

Requests by customers for specific products or services, which companies then fulfill as part of their business operations.

Lean Manufacturing

A systematic method for waste minimization within a manufacturing system without sacrificing productivity.