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Find producer's surplus at the market equilibrium point if supply function is

p=0.4x+14 and the demand function is p = 426.4 /(x+20)

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https://corporatefinanceinstitute.com/resources/knowledge/economics/consumer-surplus-formula/

Did you know?

Did you know that producer's surplus at the market equilibrium point can be found by analyzing the supply and demand functions of a market? In the given scenario, the supply function is p=0.4x+14, where 'p' represents the price and 'x' represents the quantity supplied. On the other hand, the demand function is p = 426.4/(x+20), which denotes the price and the quantity demanded. By finding the intersection of these two functions, we can identify the equilibrium point in the market. The producer's surplus at this point represents the difference between the price at equilibrium and the production costs, enabling producers to benefit from a higher price than their costs. This information is crucial for understanding the dynamics of supply and demand and the economic outcomes in a market.