Recall from the previous chapter that the producers surplus is defined by where S(q) is the supply
Question:
Recall from the previous chapter that the producers’ surplus is defined by
where S(q) is the supply function, q0 is the equilibrium quantity, and p0 S(q0) is the equilibrium price. Find the producers’ surplus for each of the following supply functions and equilibrium quantities.
S(q) = 5q - q ln(12 - q) + 6, q0 = 4
Transcribed Image Text:
90 [Po - S(q)] dq,
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