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4. Consider the following supply equation. q = 1, 000 + 21:) What is the Producer Surplus when p = 1, 250? Show your work.

4. Consider the following supply equation. q = 1, 000 + 21:) What is the Producer Surplus when p\" = 1, 250? Show your work. (20%) 5. Consider the following supply curve. The price increases from $7 to $10. What is the change in Producer Surplus? Show your work. (15%) PRICE SUPPLY CURVE

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