Question
Asked Aug 1, 2019
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Find the producers' surplus at a price level of p $51 for the price-supply equation below.
S(x) 5+0.1x + 0.0003x2
p
The producers' surplus is $
(Round to the nearest integer as needed.)
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Find the producers' surplus at a price level of p $51 for the price-supply equation below. S(x) 5+0.1x + 0.0003x2 p The producers' surplus is $ (Round to the nearest integer as needed.)

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Expert Answer

Step 1

Given price-supply equation is,

 

p = S(x) 5+0.1x + 0.0003x
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p = S(x) 5+0.1x + 0.0003x

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Step 2

Differentiating the price-supply equation with respect to x

 

0.1+0.0006x
dc
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0.1+0.0006x dc

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Step 3

Now finding the value of x at which the ...

0.1+0.0006x= 0
0.0006x-0.1
x-166.67
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0.1+0.0006x= 0 0.0006x-0.1 x-166.67

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Calculus

Derivative

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