Table 4-7

-Refer to Table 4-7.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 economic surplus in this market?
A)$5 thousand
B)$12.5 thousand
C)$25 thousand
D)$37.5 thousand

Question

Table 4-7
 
-Refer to Table 4-7.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 economic surplus in this market?
A)$5 thousand 
B)$12.5 thousand 
C)$25 thousand 
D)$37.5 thousand

Quizplus · Accepted Answer

The Answer of Table 4-7
 
-Refer to Table 4-7.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 economic surplus in this market?
A)$5 thousand 
B)$12.5 thousand 
C)$25 thousand 
D)$37.5 thousand

Table 4-7 -Refer to Table 4-7.The Equations Above Describe the Demand and Describe