Question
The producer surplus for the demand and supply functions x+y=4 and -x+y=2 is?
A) 1/2
B) 3/2
C) 5/2
D) 7/2
E) 3
I've looked at the equation: The integral of Price equilibrium-Supply function with limits of 0 to xe but I don't know how to solve for the price equilibrium with the given equations and what variable would represent Price.
A) 1/2
B) 3/2
C) 5/2
D) 7/2
E) 3
I've looked at the equation: The integral of Price equilibrium-Supply function with limits of 0 to xe but I don't know how to solve for the price equilibrium with the given equations and what variable would represent Price.