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.
A) $8,229
B) $1,969
C) $3,741
D) $1,559
E) $2,730

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. ​
A) $8,229 
B) $1,969 
C) $3,741 
D) $1,559 
E) $2,730

Quizplus · Accepted Answer

To find the producer's surplus, we need to find the difference between the market price and the cost of producing the last unit sold. 
Given the supply function: 
11ea984b_b141_7ed2_9029_47687ee1bafc_TB4005_11 dollars 
We can see that the cost of producing the last unit sold is $11ea984b_b141_7ed3_9029_e1086908981a_TB4005_11. 
Therefore, the producer's surplus is: 
11ea984b_b141_7ed2_9029_47687ee1bafc_TB4005_11 - 11ea984b_b141_7ed3_9029_e1086908981a_TB4005_11 = 3,741 dollars (rounded to the nearest dollar) 
So, the best choice is C.

If the Supply Function for X Units of a Commodity