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

Understand the methodology and importance of class analysis in the study of sociology and stratification.

Familiarize with the concepts of poverty threshold, poverty rate, and their determinants and implications.

Comprehend the roles of the petty bourgeoisie and proletariat within Marx's theory of class conflict.

Evaluate the criticisms and developments in the status attainment model.

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Definitions:

Proximity

In psychology, the physical or psychological closeness between people, which can influence attraction and the formation of relationships.

Condo

A type of real estate divided into several units that are each separately owned, surrounded by common areas jointly owned.

Attracted

The action or power of evoking interest in or liking for someone or something.

Neighbors

People living or situated physically near one another; often refers to those dwelling in close proximity in a residential area.