Question

In this problem, p is in dollars and x is the number of units.

Find the producer's surplus for a product if its demand function is

p = 144 − x² and its supply function is p = x² + 12x + 130.

(Round your answer to two decimal places.)

In this problem, p is in dollars and x is the number of units.

The demand function for a certain product is

p = 123 − 2x²

and the supply function is

p = x² + 33x + 36.

Find the producer's surplus at the equilibrium point. (Round x and p to two decimal places. Round your answer to the nearest cent.)
$

Answer 1

At equilibrium

=> x=-7 , x=1

As x cannot be negative

So, x=1

=> p=143

=> (1,143) equilibrium point

Producer surplus is given by

2)

=> x=2.1974, x=-13.1974

As x cannot be negative

So, x= 2.1974

=> x=2.20

=> p= 123-2( 4.84)

=> p=113.32

=> (2.20 , 113.32) equilibrium point

Producer surplus is given by