In May 1991,
Car and Driver described
a Jaguar that sold for 980,000 dollars. Suppose that at
that price only 45 have been sold. If it is estimated
that 350 could have been sold if the price had been
520,000 dollars. Assuming that the demand curve is a
straight line, and that 520,000 dollars and 350
are the equilibrium price and quantity, find the
consumer surplus at the equilibrium price.
surplus = thousands of dollars