Figure: Producer Surplus Price of book $45 Engelbert Andrew 0 1 2 3 4 5 Quantity...

Question

Question

Figure: Producer Surplus Price of book $45 Engelbert Andrew 0 1 2 3 4 5 Quantity of books Reference: Ref 4-5 Figure: Producer

Answer 1

Answer #1

When price increases from 25 to 35,

PS increases

PS before = (25-5)+(25-15) = 30

PS after = (35-5)+(35-15)+(35-25) = 60

PS increases by 60-30 = 30 for a total PS of 60

option(C)

Answer 2

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