The next 3 questions involve the following supply and demand equations:

Supply:p=q+10 Demand:p= 503q

68.What is the market equilibrium price and quantity?

(A)p= 10,q= 10

(B)p= 20,q= 10

(C)p= 20,q= 20

(D)p= 10,q= 20

69.The government enacts a price floor of $32. What is the Total Surplus?

(A) $168

(B) $208

(C) $200

(D) None of the above

70.What is the Deadweight Loss?

(A) $32

(B) $90

(C) $64

(D) None of the above