The demand function for a certain model of Blu-ray player is given by 300 p = 0.5x + 1 where p is the unit price in dollars and x (in units of a thousand) is the quantity demanded per week. What is the consumers' surplus if the selling price is set at $150/unit? (Round your answer to the nearest dollar.)

The demand function for a certain model of Blu-ray player is given by 300 p = 0.5x + 1 where p is the unit price in dollars and x (in units of a thousand) is the quantity demanded per week. What is the consumers' surplus if the selling price is set at $150/unit? (Round your answer to the nearest dollar.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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