In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 100/(x+4). If the equilibrium quantity is 6 units, what is the consumer's surplus? (Round your answer to the nearest cent.) $ 30

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 8E
icon
Related questions
Question
In this problem, p is in dollars and x is the number of units.
The demand function for a product is p = 100/(x+4). If the equilibrium quantity is 6 units, what is the consumer's surplus? (Round your answer to the nearest cent.)
$ 30
Transcribed Image Text:In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 100/(x+4). If the equilibrium quantity is 6 units, what is the consumer's surplus? (Round your answer to the nearest cent.) $ 30
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 1 steps

Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning