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ioda
3 years ago
15

Both the demand curve and the supply curve are straight lines. If the price is $4 but only 6 units are bought and sold, producer

surplus will be
Business
1 answer:
Stolb23 [73]3 years ago
3 0

Answer:

$12

Explanation:

Producer's surplus=1/2*Q*P( Just like the formula for the area of a triangle which is 1/2*base*height)

P is the price of the item which is $4

Q is the quantity bought and sold, which is 6 units in this case, hence, the producer surplus is shown thus

producer's surplus=1/2*$4*6

producer's surplus=$12

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