In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 100/(x + 4). If the equilibrium quantity is 6 units, what is the consumer's surplus? (Round your answer to the nearest cent.)
In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 100/(x + 4). If the equilibrium quantity is 6 units, what is the consumer's surplus? (Round your answer to the nearest cent.)
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 8E
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