Find the consumer surplus and producer surplus.
Demand P=100-0.03X
Supply P = 35+0.1X
A. Consumer surplus: $3,750Producer surplus: $12,800
B. Consumer surplus: $3,750 Producer surplus: $12,500
C. Consumer surplus: $3,750 Producer surplus: $12,600
D. Consumer surplus: $3,750 Producer surplus: $12,900
E. Consumer surplus: $3,750 Producer surplus: $12,700
ANSWER:
B. Consumer surplus: $3,750 Producer surplus: $12,500