Can you show me step by step how this problem is answered;14.9 (1) Karl Kapitalist is willing to produce p/2 − 20 chairs at everyprice, p > 40. At prices below 40, he will produce nothing. If the priceof chairs is $100, Karl will produce 30 chairs. At this price, howmuch is his producer’s surplus? 12(60 × 30) = 900.
Can you show me step by step how this problem is answered;14.9 (1) Karl Kapitalist is willing to produce p/2 − 20 chairs at everyprice, p > 40. At prices below 40, he will produce nothing….
