Calculate the consumer surplus, and producer surplus given: P = 120 - .25q and MC + 2q =5. Illustrate your response.

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter6: Simple Pricing
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Calculate the consumer surplus, and producer surplus given: 
P = 120 - .25q and MC + 2q =5. Illustrate your response.

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