Quantitative Analysis of Consumer and Producer Surplus at Equilibrium

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Consumer and Producer Surplus at Equilibrium / Problem 6

Problem 6

Given the demand equation Qd = 8000 - 400P and the supply equation Qs = 2000 + 600P, calculate the equilibrium price and quantity.

P = 6, Q = 5600

P = 7, Q = 5800

P = 8, Q = 6000

P = 5, Q = 5000