If supply is P= 20+1/2Q_Sand P = 50, the quantity is ___ and the producer surplus is ___ A)Q = 50, PS = 750 B)Q = 60, PS = 900 C)Q = 70, PS = 400 D)Q = 60, PS = 1800

Name: If supply is P= 20+1/2Q S and P = 50, the quantity is ___ and the producer surplus is ___ A)Q = 50, PS = 750 B)Q = 60, PS = 900 C)Q = 70, PS = 400 D)Q = 60, PS = 1800
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Question

Quizplus · Accepted Answer

- Set P=50 in the supply equation: 50=20+1/2Q ⇒ Q=(50-20)×2 = 60
- Calculate producer surplus: 
PS = (1/2)×(50-20)×(60-20) = 900. 
Therefore, the best choice is B.

If Supply Is P= 20+1/2QS and P = 50, the Quantity

If Supply Is P= 20+1/2Q_Sand P = 50, the Quantity