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1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00- 0.10- 0 MC 100 Quantity of Pop Rocks (thousands of packages) Calculate the consumer and producer surplus of this Pop Rock monopoly. CS = $12,500; PS = $20,000 CS = $10,125; PS = $20,250 Correct! CS = $15,125; PS = $19,250 CS= $20,250; PS = $20,250

1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00- 0.10- 0 MC 100 Quantity of Pop Rocks (thousands of packages) Calculate the consumer and producer surplus of this Pop Rock monopoly. CS = $12,500; PS = $20,000 CS = $10,125; PS = $20,250 Correct! CS = $15,125; PS = $19,250 CS= $20,250; PS = $20,250

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00- 0.10- 0 D Correct! CS = $15,125; PS = $19,250 CS= $20,250; PS = $20,250 -MC 100 Quantity of Pop Rocks (thousands of packages) Calculate the consumer and producer surplus of this Pop Rock monopoly. CS= $12,500; PS = $20,000 OCS $10,125; PS = $20,250 Show Transcribed Text Need correct answer please select and explain
Transcribed Image Text:1. Consider the market for Pop Rocks depicted in the diagram below: Price (S/package) $1.00- 0.10- 0 D Correct! CS = $15,125; PS = $19,250 CS= $20,250; PS = $20,250 -MC 100 Quantity of Pop Rocks (thousands of packages) Calculate the consumer and producer surplus of this Pop Rock monopoly. CS= $12,500; PS = $20,000 OCS $10,125; PS = $20,250 Show Transcribed Text Need correct answer please select and explain
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