The Demand Function for a Certain Brand of Compact Disc

question 245

Multiple Choice

The demand function for a certain brand of compact disc is given by The supply function for the compact discs of is given by where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the producers' surplus if the wholesale market price is set at the equilibrium price. Round your answer to the nearest dollar.

• A) $11,894
• B) $11,667
• C) $11,792
• D) $11,346

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