Consumers' Surplus The demand function for a certain brand of mattress is given by P = 400e-0.08x 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.) 866 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.) $ 500 x

Advanced Engineering Mathematics
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Author:Erwin Kreyszig
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Chapter2: Second-order Linear Odes
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Consumers' Surplus The demand function for a certain brand of mattress is given by
P = 400e-0.08x
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.)
866
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.)
$500
Transcribed Image Text:Consumers' Surplus The demand function for a certain brand of mattress is given by P = 400e-0.08x 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.) 866 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.) $500
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