68 369
Assignments Done
98,7%
Successfully Done
In November 2018

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
Expert's answer
Answer :d 10000

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions