Consumers' Surplus The demand function for a certain brand of mattress is given by P = 300e-0.03x where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month. (a) Find the number of mattresses demanded per month if the unit price is set at $200/mattress. (Round your answer to the nearest integer.) 1352 ✔mattresses (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $200 per mattress. (Round your answer to the nearest dollar.) $

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 mattress is given by
P = 300e
where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month.
(a) Find the number of mattresses demanded per month if the unit price is set at $200/mattress. (Round your answer to the nearest integer.)
1352
mattresses
-0.03x
(b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $200 per mattress. (Round your answer to the nearest dollar.)
$
Transcribed Image Text:Consumers' Surplus The demand function for a certain brand of mattress is given by P = 300e where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month. (a) Find the number of mattresses demanded per month if the unit price is set at $200/mattress. (Round your answer to the nearest integer.) 1352 mattresses -0.03x (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $200 per mattress. (Round your answer to the nearest dollar.) $
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