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'ssurplus? (Round your answer to the nearest cent.)%$4

Equilibrium of market is achieved when demand for goods and services are equal to supply for goods…

Answered: In this problem, p is in dollars and x…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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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