I need answer typing clear urjent i will give 5 upvotes no chatgpt 1. Consider the market for Pop Rocks depicted in the diagram below:Price(S/package)$1.00-0.10-0DCorrect!CS = $15,125; PS = $19,250CS= $20,250; PS = $20,250-MC100Quantity of Pop Rocks(thousands of packages)Calculate the consumer and producer surplus of this Pop Rock monopoly.CS= $12,500; PS = $20,000OCS $10,125; PS = $20,250Show Transcribed TextNeed correct answer please select andexplain

Consumer surplus refers to the area above the price and below the demand curve while supply curve…

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

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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