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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

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?

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