If the equilibrium quantity is 15 and the equilibrium price is 20, and the maximum someone is willing to pay is 40 and the supply curve intersects the y axis at zero:

A.Draw the graph of supply and demand using the information above.

B.Calculate the consumer surplus using the formula for the area of a triangle: Base x Height

C.Calculate the producer surplus using the formula for the area of a triangle: Base x Height

D.What is the total surplus?

E.If this market is perfect competition, is it efficient?