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A particular commodity has a price-demand equation given by p = 23,351 - 415x, where x is the amount in pounds of the co
Posted: Tue May 10, 2022 7:01 pm
by answerhappygod
- A Particular Commodity Has A Price Demand Equation Given By P 23 351 415x Where X Is The Amount In Pounds Of The Co 1 (73.86 KiB) Viewed 27 times
A particular commodity has a price-demand equation given by p = 23,351 - 415x, where x is the amount in pounds of the commodity demanded when the price is p dollars per pound. (a) Find consumers' surplus if the equilibrium quantity is 50 pounds. (Round your answer to the nearest cent if necessary.) (b) Find consumers' surplus if the equilibrium price is 21 dollars. (Round your answer to the nearest cent if necessary.)