Determine the producers surplus- equilibrium price

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The demand function for a certain brand of CD is given by p=-.01x^2-.2x+11 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^2+.3x+4 where p is the unit price in dollars and x stands for 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)

Reference no: EM13829939

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