Let P represent price; let Q^Srepresent quantity supplied; and assume the equation of the supply curve is .If 80 units of the good are produced and sold,then producer surplus amounts to $1,200.

Question

Quizplus · Accepted Answer

The producer surplus can be calculated as the area above the supply curve and below the market price. We do not have information about the market price, so we cannot calculate the producer surplus with only the quantity supplied.

Let P Represent Price; Let QS represent Quantity Supplied; and Assume

Let P Represent Price; Let Q^Srepresent Quantity Supplied; and Assume