• 2022-06-06
    Suppose the demand and supply curves for good X are both linear. And, the demand price for the first unit of X is $28, and the supply price for the first unit of X is $6. If the equilibrium price for good X is $16 and the equilibrium quantity of X is 24,000 units, then total consumer surplus is $________, total producer surplus is $_________, and total social surplus is $_____________.
    A: $144,000; $120,000; $264,000
    B: $672,000; $144,000; $384,000
    C: $120,000; $144,000; $264,000
    D: $28; $6; $16
    E: $144,000; $672,000; $384,000
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