Answer to Question #258665 in Microeconomics for Sonu

Question #258665

İf the supply curve is q = 3 + 1.5p, what is the producer surplus if the price is 12?

Expert's answer

q = 3 + 1.5p

p=12

"q=3+1.5\\times12=3+18=21"

Let Pmin=4

"producer surplus=0.5(Po-Pmin)\\times q=0.5(12-4)\\times21=84"

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