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

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Definitions:

Accounting Cycle

The collective process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation in the financial statements.

Beginning Assets

Beginning assets refer to the value of all assets owned by a company at the start of an accounting period, encompassing resources like cash, inventory, and property.

Ending Liabilities

The total debts and financial obligations a company owes at the end of a reporting period.

Post-closing Trial Balance

A financial report created after closing entries are made, listing all accounts and their final balances to ensure debits equal credits.