V1 Suppose students in Business Economicscourse have the following demand for anEconomics textbook: Qd=440-2p. Theseller, Harry Hartog, of the textbookpresents the supply curve given byQs=-40+4p. p is the price of the textbook,Qs is the quantity supplied and Qd is thequantity demanded. Suppose the universityasked the book seller in the campus, HarryHartog, to charge $70 per book. What is thechange in Producer Surplus?Enter numbers only. No symbols or word inthe answer.Answer: 2600

Given the quantity demand, Qd=440-2p and the quantity supply, Qs=-40+4p

Suppose students in Business Economics course have the following demand for an Economics textbook: Qd=440-2p. The seller, Harry Hartog, of the textbook presents the supply curve given by Qs=-40+4p. p is the price of the textbook,

Suppose students in Business Economics course have the following demand for an Economics textbook: Qd=440-2p. The seller, Harry Hartog, of the textbook presents the supply curve given by Qs=-40+4p. p is the price of the textbook,

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 8P

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Question

Suppose students in Business Economics
course have the following demand for an
Economics textbook: Qd=440-2p. The
seller, Harry Hartog, of the textbook
presents the supply curve given by
Qs=-40+4p. p is the price of the textbook,
Qs is the quantity supplied and Qd is the
quantity demanded. Suppose the university
asked the book seller in the campus, Harry
Hartog, to charge $70 per book. What is the
change in Producer Surplus?
Enter numbers only. No symbols or word in
the answer.
Answer: 2600

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