If the Supply Function for a Commodity Is Where

question 119

Multiple Choice

If the supply function for a commodity is where p is in millions of dollars and x is the number of thousands of units. What is the producer's surplus at ? Round your answer to the nearest million dollars. ​

• A)1,890,953 million dollars
• B)2,875,020 million dollars
• C)1,790,850 million dollars
• D)2,079,000 million dollars
• E)1,890,000 million dollars

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Definitions:

Straight-Line Depreciation

Involves evenly spreading the expense of an asset over its estimated useful life.

Capital Budgeting

The process of evaluating and selecting long-term investments that are in line with the organization's goal of maximizing shareholder value.

Straight-Line Depreciation

A process for breaking down the expenditure of a solid asset throughout its useful life in identical yearly quotas.

Discount Factor

A multiplier used to determine the present value of future cash flows by accounting for time and interest.