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

question 133

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:

Delegate

In organizational contexts, to assign responsibility or authority from one person to another to carry out specific activities, while the original person retains the final accountability for the outcome.

Group Development Process

A sequence of stages through which a group passes as it forms, starts to work together, matures in its relationships and activities, and possibly dissolves.

Conflict

A situation or process in which there is a disagreement, opposition, or clash between ideas, interests, or parties.

Formal Group

A group formed by an organization to accomplish specific tasks or objectives, characterized by structured roles, responsibilities, and processes.