Question

supply price = 50+q/2 demand price = 150-q/5 find producer and consumer surplus

Answer 1

$$q_s=2p-100$$

$$q_d=750-5p$$

$$2p-100=750-5p$$

$$p=121$$

$$q=145$$

$$CS=\frac{145\times (150-121)}{2}=2,102.5$$

$$PS=\frac {120-50}{2}\times145=5,057$$