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Suppose the demand for football tickets at a local college is QD=50,000500P and the supply of tickets is QS=40,000. The market equilibrium price is $

Suppose the demand for football tickets at a local college is

QD=50,000500P

and the supply of tickets is

QS=40,000.

The market equilibrium price is $ 20 and the equilibrium quantity is 40000 tickets.

What is the Total economic surplus in this market?

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