Homework Answers
Ans) $ 11.25
Consumer surplus = 0.5 * ( 9 - 4.5) * 5 = 11.25
Ans) $ 8.75
Producer surplus = 0.5 * ( 4.5 - 1) * 5 = 8.75
Ans) $ 20
Total surplus = 11.25 + 8.75 = 20
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economics
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