Calculate the consumer surplus, and producer surplus given: P = 120 - .25q and MC + 2q =5. Illustrate your response.

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 16QP
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Calculate the consumer surplus, and producer surplus given: 
P = 120 - .25q and MC + 2q =5. Illustrate your response.

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