Table 3.3
$\begin{array}{|l|c|}
\hline \text { Demand } & \text { Supply } \
\hline P=80-Q D & P=50+1 / 2 Q S \
\hline Q D=80-P & Q S=2 P-100\
\hline
\end{array}$
-Refer to Table 3.3.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of consumer surplus?
A)$100 thousand
B)$200 thousand
C)$600 thousand
D)$800 thousand

Question

Table 3.3
 $\begin{array}{|l|c|}
\hline \text { Demand } & \text { Supply } \
\hline P=80-Q D & P=50+1 / 2 Q S \
\hline Q D=80-P & Q S=2 P-100\
\hline
\end{array}$
-Refer to Table 3.3.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of consumer surplus?
A)$100 thousand
B)$200 thousand
C)$600 thousand
D)$800 thousand

Quizplus · Accepted Answer

The Answer of Table 3.3
 $\begin{array}{|l|c|}
\hline \text { Demand } & \text { Supply } \
\hline P=80-Q D & P=50+1 / 2 Q S \
\hline Q D=80-P & Q S=2 P-100\
\hline
\end{array}$
-Refer to Table 3.3.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of consumer surplus?
A)$100 thousand
B)$200 thousand
C)$600 thousand
D)$800 thousand

Table 33 -Refer to Table 3