If a supply curve is modeled by the equation p = 200 + 0.2 x^{3 / 2}, find the producer surplus when the selling price is $400. If a supply curve is modeled by the equation p = 200 + 0.4x^{3/2} , find the producer surplus when the selling pri...
These are reasonable values for a low-priced high volume differentiated product; for example, a calculator, a book, or a box of chocolates. Using these parameter values, the monopoly quantity is 𝑎−𝑐2𝑏a−c2b = 85,000 units, the monopoly price is 𝑎+𝑐2a+c2 = $16.50, and...