1.A
2.b
1. Market demand is given as QD = 250 – 0.5P. Market supply is given as QS = 2P. In a perfectly competitive equilibrium, what will be the value of consumer surplus?
a.$10 000
b.$20 000
c.$40 000
d.$80 000
2. Market demand is given as QD = 250 – 0.5P. Market supply is given as QS = 2P. In a perfectly competitive equilibrium, what will be the value of producer surplus?
a.$10 000
b.$20 000
c.$40 000
d.$80 000
1 answer
1 answer