Apply the formula for the area of a triangle area 12 x base


Assume the following values,Q1=20 bags, Q2= 15 bags, Q3= 27 bags. The market equilibrium price is $45 per bag. The price as a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of a triangle (Area= 1/2 x Base x Height ). What is the dollar value of the total surplus ( producer surplus plus consumer surplus) when the allocatively efficent output level is produced based on the consumer surplus at the output level?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Apply the formula for the area of a triangle area 12 x base
Reference No:- TGS0580615

Expected delivery within 24 Hours