Question: A particular commodity has a price - supply equation given by p = 3 6 2 ( 1 . 0 3 7 ) x ,
A particular commodity has a pricesupply equation given by where is the numbers of items of the commodity demanded when the price is dollars per item.
a Find producers' surplus if the equilibrium quantity is items. Round your answer to the nearest cent if necessary.
$
b Find producers' surplus if the equilibrium price is dollars. Round your answer to the nearest cent if necessary.
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