Calculate the consumer surplus in this market

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Reference no: EM131173100

This is the market data for Vespa motorbikes in Houston. Demand: P = 400 - 0.50Q Supply: P = 260 + 0.20Q where P = Price and Q = Quantity.

a. Calculate the equilibrium price and quantity.

b. Calculate the consumer surplus in this market.

c. Calculate the producer surplus in this market.

Reference no: EM131173100

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