Solved

If the Demand Function for a Product Is and the Supply

Question 114

Multiple Choice

If the demand function for a product is If the demand function for a product is and the supply function is where p is in millions of dollars and x is the number of thousands of units. Find the consumer's surplus. Round your answer to the nearest million dollars. ​​ A) ​270 million dollars B) ​267 million dollars C) ​257 million dollars D) ​181 million dollars E) ​219 million dollars and the supply function is If the demand function for a product is and the supply function is where p is in millions of dollars and x is the number of thousands of units. Find the consumer's surplus. Round your answer to the nearest million dollars. ​​ A) ​270 million dollars B) ​267 million dollars C) ​257 million dollars D) ​181 million dollars E) ​219 million dollars where p is in millions of dollars and x is the number of thousands of units. Find the consumer's surplus. Round your answer to the nearest million dollars. ​​


A) ​270 million dollars
B) ​267 million dollars
C) ​257 million dollars
D) ​181 million dollars
E) ​219 million dollars

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q109: Use the function <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4005/.jpg" alt="Use the

Q110: Find the numerical value of <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4005/.jpg"

Q111: The demand function for a certain product

Q112: Use the sum formulas to find the

Q113: Suppose that a vending machine service company

Q115: Use Simpson's Rule to approximate <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4005/.jpg"

Q116: The average life for a particular brand

Q117: Evaluate the integral <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4005/.jpg" alt="Evaluate the

Q118: Evaluate the integral <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4005/.jpg" alt="Evaluate the

Q119: The cost of producing x units of