Question: Please solve The next six questions involve the following supply and demand equations. Supply: q = p - 30. Demand: p = 600 - 2q.
Please solve



The next six questions involve the following supply and demand equations. Supply: q = p - 30. Demand: p = 600 - 2q. 71. What is the market equilibrium? (A) p* = 180, q* = 210. (B) p* = 240, q* = 210. (C) p* = 190, q* = 220. (D) p* = 220, q* = 190. 72. What is the Consumer Surplus? (A) $36,100. (B) $35,100. (C) $51,300. (D) $54,150. 73. What is the Total Surplus? (A) $36,100. (B) $35,100. (C) $51,300. (D) $54,150.87. From an economic point of view, why did the mafia rise in Sicily in the late 19th Century? (A) Because they failed to retake Constantinople, so settled for Sicily as a consolation prize. (B) Sicily had ideal political and institutional conditions for the development of what political economist Mancur Olson calls 'roving bandits' - that is, criminals who act in lieu of a state apparatus. (C) Because they were tired of listening to Karens, and decided to become entrepreneurs. (D) They were brought in to protect citrus farmers, who were responding to greater demand for their fruits due to Lind's discoveries. 88. Based on the YouTube lectures, which is the GOAT city, which we as a class must liberate from its adamantine chains of oppression? (A) Toronto. (B) Rome. (C) Addis Ababa. (D) Constantinople.74. The government imposes a price floor of $500. What is the new Consumer Surplus? (A) $2,000. (B) $2,500. (C) $22,250. (D) $24,750
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