The graph shows the market for ice cream cones. On the graph, draw a shape that shows the producer surplus at market equilibrium. Producer surplus equals $ Enter your answer in dollars and cents (i.e. round at the second decimal place). 6.00- 5.50- 5.00 4.50- 4.00- 3.50 3.00 2.50- 2.00 1.50- 1.00- 0.50 0.00- 0 Price (dollars per ice cream cone) S 5 D 30 10 15 20 25 Quantity (ice cream cones per day) 35 2

The graph shows the market for ice cream cones. On the graph, draw a shape that shows the producer surplus at market equilibrium. Producer surplus equals $ Enter your answer in dollars and cents (i.e. round at the second decimal place). 6.00- 5.50- 5.00 4.50- 4.00- 3.50 3.00 2.50- 2.00 1.50- 1.00- 0.50 0.00- 0 Price (dollars per ice cream cone) S 5 D 30 10 15 20 25 Quantity (ice cream cones per day) 35 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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a) Write down the producer equilibrium conditions (the conditions to reach a maximum level of production or a minimum level of cost)