The selling price for hamburgers is $5.99, and the daily price-response function is: d(p) = 590 - 60p. What is the demand at this price? (Round your answer to the nearest integer ). What is the seller's total contribution at this price? ( Round your answer to the nearest integer.) What is the total customer surplus at this price? ( Round your answer to the nearest integer.)

The selling price for hamburgers is $5.99, and the daily price-response function is: d(p) = 590 - 60p. What is the demand at this price? (Round your answer to the nearest integer ). What is the seller's total contribution at this price? ( Round your answer to the nearest integer.) What is the total customer surplus at this price? ( Round your answer to the nearest integer.)

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section5.A: Appendix: Price Elasticity And Tax Incidence

Problem 1AQ

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