Suppose the demand and supply curves for units of university credits are given by
Q^D = 5,000 - P
Q^S = -1,000 + 4P
where Q^D is the quantity of credits demanded, Q^S is the quantity supplied, and P is the price in dollars for each unit. Calculate the producer surplus at the equilibrium price.

Question

Quizplus · Accepted Answer

The Answer of Suppose the demand and supply curves for units of university credits are given by Q^D = 5,000 - P Q^S = -1,000 + 4P where Q^D is the quantity of credits demanded, Q^S is the quantity supplied, and P is the price in dollars for each unit. Calculate the producer surplus at the equilibrium price.

Suppose the Demand and Supply Curves for Units of University