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What is the producer surplus at equilibrium? Use the following information to answer questions 15: The demand and supply curves for pens are given by:

What is the producer surplus at equilibrium?

Use the following information to answer questions 15:

The demand and supply curves for pens are given by:

QD= 32 - 10 (P)

QS= -16 + 6(P)

We know that the equilibrium price is P = $3 and the equilibrium quantity is Q= 2.

Using this and the information in Appendix for Chapter 7 calculate the following:

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