The producer surplus when the equilibrium price is 150 is given as $625.
How to solve for the consumer surplus
We have to trace the equilibrium price and its corresponding quantity. This can be seen to be 150 dollars and 25
We have to solve this using the formula to find a triangle
0.5 b * h
= 0.5 * 150 - 100 * 25
= $625
hence the conclusion is that the producer surplus is $625
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