For a particular commodity, the quantity produced and the unit price are given by the coordinates of the point where the supply and demand curves intersect. For each pair of supply and demand curves, determine the point of intersection (A, B) and the consumers’ and producers’ surplus. (See Fig. 9.)

Demand curve: p = 12 - (x/50); supply curve: p = (x/20) + 5.

Price P Consumers' surplus (A, B) Producers' surplus Quantity 0 Figure 9 Supply curve Demand curve X