If the Supply Function for a Commodity Is Where

question 248

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 when 12 thousand units are sold? Round your answer to the nearest million dollars. ​

• A) 5,623 million dollars
• B) 3,461 million dollars
• C) 3,468 million dollars
• D) 3,999 million dollars
• E) 3,524 million dollars

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Definitions:

Responsibility Report

Financial reports that track the performance of segments, departments, or managers within an organization against their budgeted or forecasted figures.

Controllable Fixed Costs

Expenses that remain constant for a given period but can be influenced or managed by decisions of a company's management.

Management Performance Report

Management performance reports are documents or systems that provide key performance indicators and other relevant data to assess, monitor, and enhance the effectiveness and efficiency of management and organizational operations.

Controllable Fixed Costs

Fixed costs that a manager or business has the power to influence or change in the short term.