QUESTION 15 28 24 20 16 12 8 + 0 P 0 4 8 S1 D1 12 16 20 24 Q 15. Assuming that this market is at equilibrium, what is the "consumer's surplus" and producer's surplus? O a) consumer's surplus is $72; producer's surplus is $36 b) consumer's surplus is $98; producer's surplus is $49 c) consumer's surplus is $32; producer's surplus is $16 O d) consumer's surplus is $144; producer's surplus is $14

QUESTION 15 28 24 20 16 12 8 + 0 P 0 4 8 S1 D1 12 16 20 24 Q 15. Assuming that this market is at equilibrium, what is the "consumer's surplus" and producer's surplus? O a) consumer's surplus is $72; producer's surplus is $36 b) consumer's surplus is $98; producer's surplus is $49 c) consumer's surplus is $32; producer's surplus is $16 O d) consumer's surplus is $144; producer's surplus is $14

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 8MC

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