Market demand is given as Q_D= 210 - 3P.Market supply is given as Q_S= 2P + 50.In a perfectly competitive equilibrium,what will be the value of consumer surplus

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In a perfectly competitive equilibrium, market demand = market supply. So, 210 - 3P = 2P + 50 5P = 160 P = 32 Therefore, quantity demanded and supplied at equilibrium = Q_D = Q_S = 210 - 3(32) = 114. Consumer surplus at equilibrium = 1/2 * (210 - 32) * (114) = $2166.

Market Demand Is Given as QD = 210 - 3P

Market Demand Is Given as Q_D= 210 - 3P