Table 4-7 -Refer to Table 4-7.The Equations Above Describe the Demand and Describe

Multiple Choice

Table 4-7

-Refer to Table 4-7.The equations above describe the demand and supply for Bubba's Fried Jellybeans.The equilibrium price and quantity for Bubba's Fried Jellybeans are $40 and 5 thousand units.What is the value of economic surplus in this market?

A) $5 thousand
B) $12.5 thousand
C) $25 thousand
D) $37.5 thousand