A monopolist in the sugar market faces a demand curve given by the equation ?? = 60 − 2? and has total costs equal to ?? = 50 + 2?2 which means ?? = 4?. Quantity is measured in millions of tons, and you may assume that units are infinitely divisible.
A) Calculate the consumer surplus, and represent the region representing it in your graph.
B) Calculate the producer surplus, and represent the region representing it in your graph.
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