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Liula [17]
3 years ago
8

Suppose the supply function for x units of a product at a price of p dollars is given by p=10+5ln(3x+1). How many units of this

product would be supplied when the price is $50?
Business
1 answer:
Dovator [93]3 years ago
8 0

Answer:

x = 993.32

Explanation:

Given:

p=10+5ln(3x+1) , where p = $50

50 = 10 + 5ln(3x+1)

50-10 = 5ln(3x+1)

40 = 5ln(3x+1)

40/5 = ln(3x+1)

8 = ln(3x+1)

3x + 1 = e^{8}

Using calculator e^{8} = 2,980.96

3x + 1 = 2,980.96

3x = 2,980.96 - 1

3x = 2,979.96

x = 2,979.96 / 3

x = 993.32

Therefore, 993.32 units would be supplied.

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