Question

Find the producers' surplus at a price level of $7 for the price-supply equation

p=S(x)=3+0.01x^{2}

where p is the price and x is the demand. Round to the nearest dollar. Do not include a dollar sign or any commas in your answer.

Step 1

Differentiate the price-supply equation with respect to *x *and find *x *at which the derivative is zero.

Step 2

The price at *x = 0* is

Step 3

At *p = 7*, the demand ...

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