Consider that the market for soybeans is defined by the following demand and supply equations: QD = 200 - 10P and QS = 20P - 100, where P is the price in dollars and Q measures the quantity in tons per quarter. The market is currently in equilibrium.Now consider that after much lobbying by the United Farmers Association, the government imposes a price control of $12.50 in this market, with no additional government support.
1.Given the current market environment, what is the total surplus in the market?