The supply function for the CD manufactured by Herald Records is given by where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Use Trapezoidal Rule (take n = 8) to estimate the producers'surplus if the price is $8/CD. Round answer to two decimal places.
A) $33,069.99
B) $35,069.99
C) $34,069.99
D) $38,069.99

Question

The supply function for the CD manufactured by Herald Records is given by  where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Use Trapezoidal Rule (take n = 8) to estimate the producers'surplus if the price is $8/CD. Round answer to two decimal places.
A) $33,069.99 
B) $35,069.99 
C) $34,069.99 
D) $38,069.99

Quizplus · Accepted Answer

The Answer of The supply function for the CD manufactured by Herald Records is given by  where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Use Trapezoidal Rule (take n = 8) to estimate the producers'surplus if the price is $8/CD. Round answer to two decimal places.
A) $33,069.99 
B) $35,069.99 
C) $34,069.99 
D) $38,069.99

The Supply Function for the CD Manufactured by Herald Records