Business, 09.10.2019 19:20 elizabethhubbe

Suppose that last year the equilibrium price and the quantity of good x were $10 and 5 million pounds, respectively. because of strong demand this year, the equilibrium price and the quantity of good x are $12 and 7 million pounds, respectively. assuming that the supply curve of good x is linear, producer surplus:

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Suppose that last year the equilibrium price and the quantity of good x were $10 and 5 million pound...