Question: a. For a profit-maximizing firm with marginal-cost function MC(q) = 2q + 1, find producer surplus PS at price p0 = 10, p1 = 15

a. For a profit-maximizing firm with marginal-cost function MC(q) = 2q + 1, find producer surplus PS at price p0 = 10, p1 = 15 and delta PS form the price change from p0 to p1! What is the economic implication?

b. For a consumer with demand function q = 50 - 2p, find consumer surplus CS at price p0 = 20, p1 = 15 and delta CS from the price change from p0to p1!. What is the economic implication?

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