The supply curve in a market is given by P = 15 + 7.25(Q), while the demand curve is P = 89 - 24(Q). The consumer surplus and producer surplus at the equilibrium will be CS E= PS E =_ O A. 72.7 ; 25.6 O B. 135.0 ; 31.3 O C. 135.0 ; 48.2 O D. 86.7 ; 31.3 O E. 67.3 ; 20.3

The supply curve in a market is given by P = 15 + 7.25(Q), while the demand curve is P = 89 - 24(Q). The consumer surplus and producer surplus at the equilibrium will be CS E= PS E =_ O A. 72.7 ; 25.6 O B. 135.0 ; 31.3 O C. 135.0 ; 48.2 O D. 86.7 ; 31.3 O E. 67.3 ; 20.3

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q11

The supply curve in a market is given by P = 15 + 7.25(Q), while the demand curve is P = 89 - 24(Q). The consumer surplus and producer surplus at the equilibrium will be CS E= PS E=_.
O A. 72.7 ; 25.6
O B. 135.0 ; 31.3
O C. 135.0 ; 48.2
O D. 86.7 ; 31.3
O E. 67.3 ; 20.3

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