If the equilibrium price is $301 per unit, what is the producer's surplus there? The supply equation for a producer is given by p= g(q) = 5.2q is the quantity and p is the price, in dollars. Calculate the producer surplus at the eq...
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...