Multiple Choice
Suppose the demand and supply curves for units of university credits are given by
QD = 5,000 - P
QS = -1,000 + 4P
Where QD is the quantity of credits demanded, QS is the quantity supplied, and P is the price in dollars for each unit. The producer surplus at the equilibrium price is ____.
A) $1,805,000
B) $3,610,000
C) $4,560,000
D) $7,220,000
Correct Answer:
Verified
Correct Answer:
Verified
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