Homework Answers
Answer
option a
=======
before the change in demand
the equilibrium is at
S=D
where
Q=50 units
P=$100
after the change in demand
S=D'
Q=75 and P=150
producer surplus is the area above the supply curve and below
the price
so the change in producer surplus because of new producers is
=0.5*change in price * change in quantity
=0.5*(75-50)*(150-100)
=625
the change in producer surplus is the area $625
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