Question
Study the supply curve given below and answer the following question.
If the market price is $4, the producer surplus is ________.
If the market price is $4, the producer surplus is ________.
Answer: Option C
:
C
Producer surplus,Π is the area above the supply curve and below the price.
Π=12×8×4=$16
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:
C
Producer surplus,Π is the area above the supply curve and below the price.
Π=12×8×4=$16
Was this answer helpful ?
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