Question 69
HardOriginal questionThe demand function is and the supply function is . What is the producer surplus at equilibrium?
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
The market clears at , .
.
Worth noting
₹27 is the area under the supply curve up to 3 units, what producers would accept at the least.
- Concept
- Producer surplus for a curved supply
- Typical timeTypical
- 120 s
- Your timeYours
- —
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