A firm pays $5,000,000 to purchase a factory which it uses to produce a good. In equilibrium, the firm supplies 100, 000 units of the good at a price of $60 per unit. What is the difference between the firm's producer surplus and profit? Mathematically, Producer Surplus - Firm Profit = ?? (round only your final answer to one decimal place if necessary)

A firm pays $5,000,000 to purchase a factory which it uses to produce a good. In equilibrium, the firm supplies 100, 000 units of the good at a price of $60 per unit. What is the difference between the firm's producer surplus and profit? Mathematically, Producer Surplus - Firm Profit = ?? (round only your final answer to one decimal place if necessary)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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