Determine whether each statement is true or false. You have one submission for each statement.

$($a$)$ If p denotes the equilibrium price, then the consumer surplus at any price higher than p must be less than or equal to the consumer surplus at price p$.$

True False

Suppose the daily supply equation for noise cancelling wireless headphones is given by

p $=$ S$($x$)=20+90$e$0\mathrm{.}06$x

where p is in dollars and x is the number of headphones produced daily. Determine the quantity supplied if the market price is $560$ dollars.

Quantity supplied $($exact value$)=$

units

Determine the producer surplus at the market price of $560$ dollars.

Producer surplus $($exact value$)=$

dollars

Producer surplus $($rounded to the nearest dollar$)=$ dollars