A particular commodity has a price-demand equation given by p = root/(23,925 - 418x), where x is the amount in pounds of
Posted: Tue May 10, 2022 8:23 pm
A particular commodity has a price-demand equation given
by p = root/(23,925 - 418x), 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 23
dollars. (Round your answer to the nearest cent if necessary.)
by p = root/(23,925 - 418x), 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 23
dollars. (Round your answer to the nearest cent if necessary.)