If the supply function for x units of a commodity is dollars, what is the producer's surplus at ? Round your answer to the nearest dollar.

Question

If the supply function for x units of a commodity is  dollars, what is the producer's surplus at  ? Round your answer to the nearest dollar. ​

Quizplus · Accepted Answer

To calculate the producer's surplus, we need to find the area above the supply curve and below the price at which the product is sold (in this case, $11). The integral of the supply function is 5.5e^(0.1x), so at a price of $11, the producer will supply 183.85 units (rounded to two decimal places). The producer's surplus is then (1/2) * (183.85) * (11 - 3.74), which is approximately $3,741 when rounded to the nearest dollar.

If the Supply Function for X Units of a Commodity