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Producers' Surplus The demand function for a certain brand of CD is given by p=-0.01x% - 0.2x + 15 where p is the unit price
Producers' Surplus The demand function for a certain brand of CD is given by p=-0.01x% - 0.2x + 15 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p=0.01x%+x+1 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. Determine the producers' surplus if the market price is set at the equilibrium price. (Round your answer to the nearest dollar.) $ 32 X Need Help? Read It
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