The Demand Function for Corn Is Q = 200 -

Multiple Choice

The demand function for corn is q = 200 - p and the supply function is q = 50 + .5p.The government sets the price of corn at $150 and agrees to purchase and destroy any excess supply of corn at that price.How much money does it cost the government to buy this corn?

A) $11,250
B) $18,750
C) $7,500
D) $10,750
E) $14,500