In a perfectly competitive market for electricity, suppose the total cost (in dollars) of generating electricity is given by C(Q)= Q2+100Q, where Q is the unit of electricity produced.
Derive the supply of electricity in this market.
Graph the elasticity of supply electricity, as a function of the electricity price that ranges from $200 to $400. Graph this
(Suppose that the price of electricity changes from $200 to $300, by how much does the producer surplus change?