Suppose the Inverse Supply Curve in a Market Is Q

question 93

Multiple Choice

Suppose the inverse supply curve in a market is Q = 6p².What is the producer surplus when price is equal to 4?

• A)96
• B)128
• C)28
• D)48

---

Definitions:

MC Curve

The Marginal Cost Curve, depicting the increase in total cost that arises from producing one additional unit of a good or service.

Cost Curves

Graphs that show the cost of producing different quantities of a good or service, typically including average and marginal cost curves.

Market Price

The current price at which an asset or service can be bought or sold in a competitive marketplace.

Total Cost

The total cost is the sum of fixed and variable costs incurred in the production of goods or services.