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 2

Problem 2

Given the demand equation Qd = 800 - 4P and the supply equation Qs = 2P + 200, what is the equilibrium price?

\$200

\$50

\$150

\$100