Figure: Understanding Surplus and Efficiency Price to 15 20 (Figure: Understanding Surplus and Efficiency) In the...

Question

Question

Answer 1

Answer #1

Answer
the firm produces at Qd=Qs
where
Q= 10 units
P=$10

Producer surplus is the area below the price and above the supply curve
PS=0.5*(P-Y axis intercept of the supply curve)*Q
=0.5*(10-4)*10
=$30

the producer surplus is $30

Option 1

Answer 2

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