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What is the consumer surplus (CS) and producer surplus (PS) in a competitive market with a...

What is the consumer surplus (CS) and producer surplus (PS) in a competitive market with a market demand curve defined by p = 5 - q and a market supply curve defined by p = (1/4)q? (Recall that the formula for calculating the area of a triangle is (1/2) * b * h, where b is the length of the triangle's base and h is the triangle's height.)

a.CS = 16 & PS = 4

b.CS = 2 & PS = 8

c.CS = 8 & PS = 2

d.CS = 4 & PS = 16

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OPTION C

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