Find the Producer's Surplus for a Product If Its Demand

question 70

Multiple Choice

Find the producer's surplus for a product if its demand function is and its supply function is where p is in millions of dollars and x is the number of thousands of units. Round your answer to the nearest million dollars. ​

• A) 53 million dollars
• B) 44 million dollars
• C) 40 million dollars
• D) 36 million dollars
• E) 47 million dollars

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Definitions:

Spinal Nerves

Bundles of nerve fibers that connect the spinal cord to various parts of the body, facilitating communication between the brain and the rest of the body.

Spinal Cord

A long, thin, tubular bundle of nervous tissue and support cells that extends from the brain, facilitating communication between the brain and the rest of the body.

Medulla Oblongata

The medulla oblongata is a part of the brainstem that controls vital bodily functions such as breathing, heart rate, and blood pressure.

Cerebral Aqueduct

A narrow channel within the brain that connects the third and fourth ventricles, allowing for the flow of cerebrospinal fluid.