The demand function for a certain kind of laptop is given by p = 600e-0.04x where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded each month. (a) Find the number of laptops demanded per month of the unit price is set at $500 per laptop. (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $500 per laptop.

The demand function for a certain kind of laptop is given by p = 600e-0.04x where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded each month. (a) Find the number of laptops demanded per month of the unit price is set at $500 per laptop. (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $500 per laptop.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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