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- What is the producer surplus in the market equilibrium? Again, the equations are: Q = 3P-90 Qd = 400 - 5Pin a competitive market, if there should be a surplus of a product at a given price:If the supply curve is q = 4 + 2p, what is the producer surplus if the price is p = 12? Producer surplus (PS) equals $ |: (Enter your response as a whole number.)
- Based on this graph, Calculate producer surplus from 500 pairs of shoes.Suppose there is an inverse supply function PS= 10 + 4.5Q and a market price P* = 44. What is the quantity supplied? What is the producer surplus?Imagine the market for a phone card has a demand function of QDX = 38 – 2PX and a supply function of QSX = 4PX - 10, where PX is the price of the phone card. If PX is 10, calculate the producer surplus (PS).