If the Supply Function for X Units of a Commodity

question 194

Multiple Choice

If the supply function for x units of a commodity is dollars, what is the producer's surplus at ? Round your answer to the nearest dollar. ​

• A) $8,229
• B) $1,969
• C) $3,741
• D) $1,559
• E) $2,730

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Definitions:

Negative Externality

A cost experienced by a third party who did not choose to incur that cost, often related to environmental, social, or health issues.

Uncompensated Cost

Costs that occur when an action has effects, positive or negative, on third parties without those parties being compensated.

Social Cost

The total cost of an activity, including both private costs borne by the producer and external costs suffered by others.

External Costs

Costs incurred by someone who does not participate directly in a transaction or activity, often relating to environmental or societal impacts.