QUESTION 1 Refer to the figure below. Producer surplus is 18 14 12 8 6 4...

Question

Question

QUESTION 1 Refer to the figure below. Producer surplus is 18 14 12 8 6 4 2 5 10 15 20 25 30 35 40 45 a. $60 b.$420 c. $180

Answer 1

Answer #1

Ans. c $180

Explanation
Producer surplus = (14 -2) x 30 x 0.5 = 180
Producer surplus is $180.

Answer 2

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