Question: If the supply curve is q = 2 + 2p, what is the producer surplus if the price is 10?

If the supply curve is q = 2 + 2p, what is the producer surplus if the price is 10?

Step by Step Solution

★★★★★

3.39 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Producer surplus PS is the difference between the amount for which a good sell... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1377-B-E-D-A-S(3923).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Q:

If the supply curve for snowboards in the United States is described by the equation QS = 400P 8,000 (where Q is the number of snowboards and P is in dollars per snowboard), compute the producer...

Q:

Suppose that the demand curve for wheat is Q = 100 10p and the supply curve is Q = 10p. The government imposes a price ceiling of p = 3. a. Describe how the equilibrium changes. b. What effect does...

Q:

Suppose that the demand curve for wheat is q = 100 - 10p and the supply curve is q = 10p. The government imposes a price support at p = 6 using a deficiency payment program. a. What is the quantity...

Q:

If the supply curve is q = 2 + 2p, what is the producer surplus if the price is 10? (Hint: See Solved Problem 9.1.) M

Q:

If the supply curve is q = 2 + 2p, what is the producer surplus if the price is 10?

Q:

2.2 If the supply curve is q = 2 + 2p, what is the producer surplus if the price is 10? (Hint: See Solved Problem 9.1.) M

Q:

3. A new Jetski machine costs $ 67,000 and has a lifespan of 5 years. The increased production is $ 15,000 per year of additional income. Money can earn 0.3% per year, compounded continuously....

Q:

MicroeconomicsModule 2 Study Guide Notes It is recommended that your print and fill this study guide out as you work through each lesson. You will have an Assessment assignment that is due at the end...

Q:

Nolita photo print lab: A friend of yours is thinking of opening a photo print lab in Nolita and would like your advice. Although the photo print market in Manhattan is very competitive, she claims...

Q:

HW # 1: PROBLEM SET Demand and Supply Let the Market Demand curve for soybeans be given by the following equation: Q = 100,000 10,000 P WhereQ = the quantity of soybeans in kilograms P = the price of...

Q:

Two manometric tubes are mounted on a horizontal pipe of varying cross-section at the sections S1 and S2 (Fig). Find the volume of water flowing across the pipe's section per unit time if the...

Q:

How can the lights in a home be dimmed using a coil of wire and a soft iron core?

Q:

The adjusting entry for depreciation of fixed assets falls into what type of adjustment?

Q:

7. Illustrate each of the following changes with a labor supply and demand diagram. (Use a separate diagram for each part.) Diagram the new equilibrium point, and note how the wage and quantity of...

Q:

In 2012, the governors of several livestockproducing states asked the U.S. Environmental Protection Agency (EPA) to suspend federal ethanol mandates due to a major drought (Amanda Peterka, EPA Denies...

Q:

Use math to show that, as the supply curve at the equilibrium becomes nearly perfectly elastic, the entire incidence of the tax falls on consumers.

Q:

A constant elasticity supply curve, Q = Bp, intersects a constant elasticity demand curve, Q = Ap , where A, B, , and are constants. What is the incidence of a $1 specific tax? Does your answer...

Q:

Suppose that you wanted to buy a new Honda Civic and you want to wait until you can get a good deal. You want to see if the usual/average price of a Honda Civic is below the blue book value of...

Q:

A father's will leave R30 000 in a trust for three children aged 5,8 and 10, with direction that each child should receive an equal amount at age 21 . If the trust earns interest at 3% p.a....

Q:

You just graduated from college and are starting your new job. You realized the importance to save for the future and have figured out that you will save $ 3 , 0 0 0 per month for the next 1 0 years;...