Question: Qd = 145 - 9 Poil + 3 Pags + 6.2 M Qs = 4 + 0.9 Poil - 8.5 PK - 1.1 PL -

Qd = 145 - 9 Poil + 3 Pags + 6.2 M Qs = 4 + 0.9 Poil - 8.5 PK - 1.1 PL - 6.1 PN Where Poil is the price of oil, Pgas is the price of gas (set = 41), PK is the price of capital (set = 30), PL is the price of labour (set = 82), PN is the price of natural resource (set = 37), and M is a measure of weekly income (set = 982). Assuming that the market for oil is perfectly competitive, what is the total surplus at the current market equilibrium? (your answer must be rounded off to the whole number, i.e., no decimal places)

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