Given from question-:
supply curve- q=2+2p
p = 12
we need to find PS=?
Now,
by putting value of p in the supply curve equation
q = 2 + 2*12
q = 2+24
q = 26
the formula to calculate producer surplus is-
PS = 1/2 * base * height
in our case, base = 26, and height = 12 - 2 = 10, where 2 is a minimum price to produce a unit.
so, PS = 1/2 * 26 * 10
PS = 13 * 10
PS = 130 (Answer)
Answer - Producer Surplus (PS) equals $ 130
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