Using the following supply and demand schedule, calculate consumer and producer surplus. Who benefits more at the
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- Using the following supply and demand schedule, calculate consumer and producer surplus. Who benefits more at the equilibrium conditions? [6 points]
| Price | Qd | Qs |
| $1 | 440 | 110 |
| 2 | 420 | 240 |
| 3 | 400 | 370 |
| 4 | 380 | 500 |
| 5 | 360 | 630 |
| 6 | 340 | 760 |
| 7 | 320 | 890 |
| 8 | 300 | 1020 |
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