Determining producers surplus

Reference no: EM1367153

Producers' surplus -

p = S(q) is the price (dollars per unit) at which q units of a particular commodity will be supplied to the market by producers, and q0 is a specified level of production. Find the price p0 = S(q0) at which q0 units will be supplied and compute the corresponding producers' surplus PS. Sketch the supply curve y = S(q) and shade the region whose area represents the producers' surplus.

S(q) = 17 + 11e^0.01q ; q0 = 7 units

Reference no: EM1367153

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