Suppose the demand and supply curves for shampoo are given by
Q^D = 18 - 5P
Q^S = -3 + 2P
Where Q^D is the quantity of shampoo demanded (in thousands of bottles) , Q^S is the quantity supplied, and P is the price of shampoo (in dollars per bottle) . The consumer surplus at the equilibrium price is ____.

Question

Quizplus · Accepted Answer

The Answer of Suppose the demand and supply curves for shampoo are given by Q^D = 18 - 5P Q^S = -3 + 2P Where Q^D is the quantity of shampoo demanded (in thousands of bottles), Q^S is the quantity supplied, and P is the price of shampoo (in dollars per bottle). The consumer surplus at the equilibrium price is ____. A) $9 B) $900 C) $450 D) $4.50

Suppose the Demand and Supply Curves for Shampoo Are Given