Skip to main content
5. Consumer and Producer Surplus; Price Ceilings and Price Floors - Part 2 of 2!
5. Consumer and Producer Surplus; Price Ceilings and Price Floors / Quantitative Analysis of Consumer and Producer Surplus at Equilibrium / Problem 3
Problem 3

A market has Qd = 1500 - 15P and Qs = 5P + 300. Calculate equilibrium price, equilibrium quantity, demand axis price, and consumer surplus.