Question
The demand function for a certain brand of CD is given by p = 0.01 x 2 0.2 x + 9 where p is the
The demand function for a certain brand of CD is given by
p = 0.01x2 0.2x + 9
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 = 0.01x2 + 0.2x + 3
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.)
CONSUMERS SURPLUS {rpducers Surplus-
ANSWER IS NOT 341 and171
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