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Producer Surplus: To determine the initial producer surplus, we need to locate the region between the supply curve and the equilibrium price line. At the equilibrium price of around $35.71, the amount that would be supplied can be determined, the quantity supplied would be: Q=50+2(35.71)= 121.43 In order to accurately calculate the initial producer surplus, it is imperative that we calculate the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity. Failure to do so may result in inaccurate assessments and flawed conclusions. Initial Producer Surplus = (1/2) x (35.71-0) x (121.43-50) = $1,767.86 Based on our calculations of the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity, we can estimate that the initial producer surplus amounts to around $1,767.86.

Producer Surplus: To determine the initial producer surplus, we need to locate the region between the supply curve and the equilibrium price line. At the equilibrium price of around $35.71, the amount that would be supplied can be determined, the quantity supplied would be: Q=50+2(35.71)= 121.43 In order to accurately calculate the initial producer surplus, it is imperative that we calculate the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity. Failure to do so may result in inaccurate assessments and flawed conclusions. Initial Producer Surplus = (1/2) x (35.71-0) x (121.43-50) = $1,767.86 Based on our calculations of the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity, we can estimate that the initial producer surplus amounts to around $1,767.86.

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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Subject : - Economic

can you help me verify the math is done correctly. 
B: Producer Surplus: To determine the initial producer surplus, we need to locate the region between the supply curve and the equilibrium price line. At the equilibrium price of around $35.71, the amount that would be supplied can be determined, the quantity supplied would be: Q=50+2(35.71)= 121.43 In order to accurately calculate the initial producer surplus, it is imperative that we calculate the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity. Failure to do so may result in inaccurate assessments and flawed conclusions. Initial Producer Surplus = (1/2) x (35.71-0) x (121.43-50) = $1,767.86 Based on our calculations of the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity, we can estimate that the initial producer surplus amounts to around $1,767.86.
Transcribed Image Text:B: Producer Surplus: To determine the initial producer surplus, we need to locate the region between the supply curve and the equilibrium price line. At the equilibrium price of around $35.71, the amount that would be supplied can be determined, the quantity supplied would be: Q=50+2(35.71)= 121.43 In order to accurately calculate the initial producer surplus, it is imperative that we calculate the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity. Failure to do so may result in inaccurate assessments and flawed conclusions. Initial Producer Surplus = (1/2) x (35.71-0) x (121.43-50) = $1,767.86 Based on our calculations of the area of the triangle formed by the intersection of the supply curve and the equilibrium quantity, we can estimate that the initial producer surplus amounts to around $1,767.86.
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