Study the supply curve given below and answer the following question.
If the market price is $4, the producer surplus is ________.
$8
$12
$16
$32
Producer surplus, Π is the area above the supply curve and below the price.
Π=12×8×4=$16
At what price is the producer surplus equal to $2?
If the quantity supplied increases from 10 to 20, the total revenue ________.
Study the supply curve given in the figure.
If the market price is $8, what is the quantity supplied?
For the supplier, when the marginal cost of producing a unit is $2, his profit is maximized. What quantity would he supply?
The supply curve for a firm is q=0.75p−3 What is the producer surplus at price of Rs 8?