A particular commodity has a price-demand equation given by p = v6724 – 224æ, where a is the amount in pounds of thecommodity demanded when the price is p dollars per pound. Find consumers' surplus if(a) the equilibrium quantity is 26 pounds. Round your answer to the nearest cent if necessary.(b) the equilibrium price is 23 dollars. Round your answer to the nearest cent if necessary.

Given that: Price-demand equations: p=6724-224x

Answered: A particular commodity has a…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter9: Quadratic Functions And Equations

Section9.4: Solving Quadratic Equations By Factoring

Problem 59HP

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