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A new kind of smartphone is selling for $500. The first cell phone costs $300 to produce, and each subsequent phone costs $325 to produce. What is the producer surplus for this market when selling four
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A new kind of smartphone is selling for $500. The first cell phone costs $300 to produce, and each subsequent phone costs $325 to produce. What is the producer surplus for this market when selling four cell phones at this rate

User Dalupus
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Answer:The profit is $740

Explanation:4(500)-[3(320)+300]

4x500=2000

3x320=960+320=1260

2000-1260=$740

User Joel Westberg
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