A particular commodity has a price-supply equation given by p= 368(1.039), where x is the numbers of items of the commodity demanded when the price is p dollars per ite (a) Find producers' surplus if the equilibrium quantity is 54 items. (Round your answer to the nearest cent if necessary.) $ (b) Find producers' surplus if the equilibrium price is 2,264 dollars. (Round your answer to the nearest cent if necessary.)
A particular commodity has a price-supply equation given by p= 368(1.039), where x is the numbers of items of the commodity demanded when the price is p dollars per ite (a) Find producers' surplus if the equilibrium quantity is 54 items. (Round your answer to the nearest cent if necessary.) $ (b) Find producers' surplus if the equilibrium price is 2,264 dollars. (Round your answer to the nearest cent if necessary.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 8E
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