Exercise Four It is given that the producer's surplus is 132,000 and the consumer's surplus is a fourth of the producer's surplus. Also, now the supply curve has the form: |
Rework the problem we studied in this lesson in order to determine the equilibrium point and the linear demand curve. (Do you need any other mathematical tools to solve the problem, since the supply curve is not linear? How will you find the area that corresponds to producer's surplus?) |