ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Hi, I need help finding the correct solution for this problem. I have tried entering both "30" and "30.00" as the solution, but the program marked both as incorrect. I'm not sure whether I'm making a small error or if I'm completely off. Please help, Thank you.
In this problem, p is in dollars and x is the number of units.
The demand function for a product is p = 300/(x + 3). If the equilibrium quantity is 7 units, what is the consumer's
surplus? (Round your answer to the nearest cent.)
%$4
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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 = 300/(x + 3). If the equilibrium quantity is 7 units, what is the consumer's surplus? (Round your answer to the nearest cent.) %$4
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