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1.) Consider a market characterized by the following demand and supply functions: is Qd = 180 2P and Qs = 15 + P. Compute the

1.) Consider a market characterized by the following demand and supply functions: is Qd = 180 2P and Qs = 15 + P. Compute the surplus received by producers and consumers.

a Php3200 and Php1600, respectively.

b Php1225 and Php1400, respectively.

c Php3150 and Php1225, respectively

d .Php1400 and Php1225, respectively.

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