The answers are A and B but I have no idea why. Market Supply and Demand for Pep

Question

The answers are A and B but I have no idea why.

Market Supply and Demand for Pepperoni Pizza PRICE $ 12.00 $10.00 $8.00 $6.00 $4.00 $2.00 QUANTITY DEMANDED 0 4 8 12 16 20 QUANTITY SUPPLIED 12 10 8 6 4 2 36. Refer to Table 7-5. As the table suggests, the demand curve is a straight line and so is the supply curve. Take this into account and suppose the price is $8, with only 4 pizzas being bought and sold. Producer surplus amounts to a) $24. b) $28. e) $32. d) $40. 37. Refer to Table 7-5. As the table suggests, the demand curve is a straight line and so is the supply curve. Taking this into account, when there is equilibrium, total surplus is a) $44. b) $48. e) $54. d) $68.

Explanation / Answer

1.c.$32

2.b.$48

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