If the Supply Function for a Commodity Is Where

question 259

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:

Relationships

Connections, associations, or interactions between two or more people, groups, or things.

Modern Square

A method of representing the four types of categorical propositions and their logical relations in a visual diagram.

Opposition

A resistance or dissent, expressed in action or argument, against something or someone.

A Proposition

An expression of a belief or assessment that conveys a perspective, capable of being true or misleading.