Author Question: Producer Surplus and the Supply Curve222The graph shows the market supply of hotdogs.If P1=$0.25, ... (Read 57 times)

Apple716 · **on:** Nov 23, 2022

Question 1

Consumer Surplus and Pricing

The table shows the willingness to pay for five consumers in the market for dog collars.

Consumer	Highest Price Willing to Pay
Antwone	21
Nevaeh	16
Valentina	11
Matias	6
Rudra	1

What is the consumer surplus when the price is $16? When the price is $5.5?
◦ $5.00, $32.00
◦ $5.00, $30.00
◦ $18.50, $30.00
◦ $18.50, $32.00

Question 2

Producer Surplus and the Supply Curve

222The graph shows the market supply of hotdogs.

If P1=$0.25, P2=$6.50, and Q1=130, what is the producer surplus?
◦ $406.25
◦ $422.50
◦ $812.50
◦ $845.00

Spike8502 · **Reply #1 on:** Nov 23, 2022

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