00:02
So, here first one is initial p s at price p 1 16.
00:13
So, find the quantity of p 1 by setting m c q equals p 1.
00:21
So, here 6 plus 2 into q 1 16.
00:27
So, 2 into q 1 will be 10.
00:30
So, q 1 will become 5.
00:33
Now, second is to calculate the initial producer surplus p s 1 by finding area under m c curve up to q 1 at p 1.
01:07
So, p s 1 is equal to half into q 1 into p 1 minus 6.
01:15
So, half 5 16 minus 6.
01:22
So, it will become half 5 10.
01:26
So, total of 25.
01:30
Now, second one is new price new p s at price p 2 20.
01:42
So, find the quantity of p 2 by setting m c q equals p 2.
01:52
So, 6 plus 2 into q 2 into q 2 is equal to 20...