The demand function for a quantity of a certain good is D(q) = 100 –g, and the supply function is S(g): = = 3q. Find the consumer surplus and the producer surplus if the equilibrium quantity of the good is sold at the equilibrium price. Equilibrium quantity: Equilibrium price: Consumer surplus: 312.5 Producer surplus: 937.5

The demand function for a quantity of a certain good is D(q) = 100 –g, and the supply function is S(g): = = 3q. Find the consumer surplus and the producer surplus if the equilibrium quantity of the good is sold at the equilibrium price. Equilibrium quantity: Equilibrium price: Consumer surplus: 312.5 Producer surplus: 937.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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