Demand P-50-200 Q25-0.5P Supply P=35+ QS QSP-35 23) Refer to Table 4-12. The equations above describe the demand and supply for Bubba's Fried Jellybeans. The equilibrium price and quantity for Bubba's Fried Jellybeans are $40 and 5 thousand units. What is the value of consumer surplus? A) $5 thousand B) $12.5 thousand C) $25 thousand D) $37.5 thousand Page Ref: 144-146 22) 23)

Demand P-50-200 Q25-0.5P Supply P=35+ QS QSP-35 23) Refer to Table 4-12. The equations above describe the demand and supply for Bubba's Fried Jellybeans. The equilibrium price and quantity for Bubba's Fried Jellybeans are $40 and 5 thousand units. What is the value of consumer surplus? A) $5 thousand B) $12.5 thousand C) $25 thousand D) $37.5 thousand Page Ref: 144-146 22) 23)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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