Suppose the Domestic Supply (Q^S) and Demand (Q^D)for MP3 Players $$\begin{array} { l } Q ^ { S } = - 25 + 10 P \\Q ^ { D } = 875 - 5 P\end{array}$$

Suppose the domestic supply (Q^S) and demand (Q^D) for MP3 players in the United States are given by the following set of equations: $$\begin{array} { l } Q ^ { S } = - 25 + 10 P \\Q ^ { D } = 875 - 5 P\end{array}$$ In the absence of trade with the rest of the world, the consumer surplus in the United States' MP3 player market is _____.

A) $22,562.50
B) $30,062.50
C) $33,062.50
D) $19,500.00

Correct Answer:

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