Given: Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. A) What is the seller's reservation price? B) What is the consumer's surplus before tax? C) What is the producer's surplus before tax?

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Q: Given: Qd = 240 - 5P Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P…

A: Answer to the question is as follows :

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