Suppose the demand and supply curves for good X are both linear. The demand price for the first unit of X is $28, and the supply price for the first unit of X is $6. If the equilibrium price for good X is $16 and the equilibrium quantity of X is 24,000 units, then total consumer surplus is ________, total producer surplus is ________, and total social surplus is ________.
A. $144,000; $672,000; $384,000
B. $144,000; $120,000; $264,000
C. $672,000; $144,000; $384,000
D. $28; $6; $16
E. $120,000; $144,000; $264,000
Answer: B
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