Question

Find the producers' surplus for a product if the supply function is given by S(x)=0.19e0.1xS(x)=0.19e0.1x and xE=6xE=6 units. Round your answer to the nearest cent.

Answer #1

The given supply function is,

put xe = 6, then price becomes,

Hence the equilibrium point is,

The producers surplus is given by,

plugin the values,

after integrating,

rounding off to nearest cent,

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