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Answer to Question #70302 in Microeconomics for Mac

Question #70302
13. Consider a perfectly competitive market described by the supply function P = 20 + 0.3Q and demand function P = 120 - 0.2Q. The total economic surplus (consumer surplus + producer surplus) generated by the good when the market is in equilibrium is:
A. $4,000
B. $6,000
C. $8,000
D. $10,000
E. $16,000
F. $20,000
1
Expert's answer
2017-09-29T10:14:06-0400
Answer :d 10000

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