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9. (LO4) Find the Producer's Surplus at Q=5 for the Supply Function P=23+2Q A). 5 B). 10 C). 15 D). 20 E). 25

Soru

9. (LO4) Find the producer's surplus at Q=5 for the supply function P=23+2Q a). 5 b). 10 c). 15 d). 20 e). 25

Çözüm

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Zeliha
Uzman doğrulaması
Elit · 8 yıl öğretmeni

Cevap

To find the producer's surplus at for the supply function , we need to follow these steps:1. **Determine the market price at **: 2. **Find the supply function's intercept (i.e., the price when )**: 3. **Calculate the area of the triangle formed by the supply curve, the price level at , and the price level at **: The base of the triangle is the difference in price levels, and the height is the quantity . 4. **Calculate the area of the triangle**: Therefore, the producer's surplus at is .The correct answer is:e). 25