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

question 242

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:

Telecommuting Policies

Guidelines that govern the practices and conditions under which employees can work from locations outside the traditional office.

Turnover

In a business context, the rate at which employees leave a company and are replaced by new employees.

Independent Variable

A variable in an experiment or study that is manipulated or changed by the researcher to observe its effect on the dependent variable.

Telecommuting Policies

Guidelines and practices designed to manage and support the work of employees who work from remote locations, often from home.