Estimated domestic demand and supply for sugar beets in the U.S. are given by:

QD = 600 - 8 * P -> P = 75 - 1/8 * Q

and

QS = 300 + 22 * P -> P = 150/11 + 1/22 * Q where Q is in millions of short tons, and P is in $ per short ton.

25. Find equilibrium price P and quantity Q for this market. In addition, compute the total surplus, i.e., the sum of consumer surplus plus producer surplus.