Question
Asked Dec 1, 2019
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find the producers surplus at a price level of $255 for the price-supply equation p=S(x)=15+0.2x+0.002x2

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Expert Answer

Step 1

Given price supply ...

p S(x) 15+0.2x +0.002x2 for the price level of $255
Substitue x x in S(x) and p = 255
-2
255 15 0.2x + 0.002x
-2
0.2x 0.002x -240 = 0
x = 300,-400
Here -400 will be eliminated because of negativity
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p S(x) 15+0.2x +0.002x2 for the price level of $255 Substitue x x in S(x) and p = 255 -2 255 15 0.2x + 0.002x -2 0.2x 0.002x -240 = 0 x = 300,-400 Here -400 will be eliminated because of negativity

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Tagged in

Math

Calculus

Integration