The supply curves of three branches of Great Power are given by the following equations:

i. Q1 = - 200 + 2P

ii. Q2 = - 500 + 2.5P

iii. Q3 = - 1000 +2P

Where Q is the quantity (in 1000s of electric kilowatts) supplied, and P is the price per kilowatt.

The demand curves of three companies that consume electricity from the three branches of Great Power are given by the following equations:

i. Q1 = 4000 -2P

ii. Q2 = 3000 - 3P

iii. Q3 = 600 - 2P

A. Provide both graphical and algebraic (equation) depictions of the market supply (the combined supply of the three branches) of electric kilowatts.

B. How many electric kilowatts are supplied in the market if the market price is $150 per kilowatt?

C. How many electric kilowatts are supplied by each of the three branches of Great Power if the market price is $150 per kilowatt?

D. Provide both graphical and algebraic depictions of the market demand (the combined demand of the four consumers) for electric kilowatts.

E. Based on the market supply and demand you calculated in (A) and (D), what are the equilibrium price and quantity of electric kilowatts?

F. Calculate the consumer surplus and the producer surplus, and show the results in the graph.