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Author Question: Suppose the market supply curve is p = 5 + Q. At a price of 10, producer surplus equals A) 50. ... (Read 218 times)

bb

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on: Jul 1, 2018
Suppose the market supply curve is p = 5 + Q. At a price of 10, producer surplus equals
 
  A) 50.
  B) 25.
  C) 12.50.
  D) 10.

Question 2

Mister Jones was selling his house. The asking price was 220,000, and Jones decided he would take no less than 200,000. After some negotiation, Mister Smith purchased the house for 205,000. Jones' producer surplus is
 
  A) 5,000.
  B) 15,000.
  C) 20,000.
  D) Not able to be calculated from the information given.


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Ahernandez18

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


bb

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Reply #2 on: Jul 1, 2018
Thank you


Ahernandez18

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Reply #3 on: Jul 1, 2018
No problemo


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