Consumers' Surplus The demand function for a certain brand of CD is given by p = -0.01x2 - 0.1x + 19 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus (in dollars) if the market price is set at $7/disc. (Round your answer to two decimal places.) $ 225

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Consumers' Surplus The demand function for a certain brand of CD is
given by
p = -0.01x? - 0.1x + 19
where p is the wholesale unit price in dollars and x is the quantity demanded
each week, measured in units of a thousand. Determine the consumers'
surplus (in dollars) if the market price is set at $7/disc. (Round your answer
to two decimal places.)
$ 225
The units in the original equation are in thousands.
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Transcribed Image Text:Consumers' Surplus The demand function for a certain brand of CD is given by p = -0.01x? - 0.1x + 19 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus (in dollars) if the market price is set at $7/disc. (Round your answer to two decimal places.) $ 225 The units in the original equation are in thousands. Need Help? Read It Master It Submit Answer
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