Question

The demand function for a certain brand of CD is given by p = −0.01x2 −...

The demand function for a certain brand of CD is given by

p = −0.01x2 − 0.1x + 36

where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus if the market price is set at $6/disc. (Round your answer to two decimal places.)

Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The demand function for a certain brand of CD is given by p = −0.01x2 −...
The demand function for a certain brand of CD is given by p = −0.01x2 − 0.2x + 14 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p = 0.01x2 + 0.7x + 3 where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured...
The demand function for a certain brand of CD is given by p = −0.01x^2 −...
The demand function for a certain brand of CD is given by p = −0.01x^2 − 0.2x + 11 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p = 0.01x^2 + 0.4x + 3 where p is the unit wholesale price in dollars and x stands for the quantity that will be made available in the market by the...
The demand function for a certain make of replacement cartridges for a water purifier is given...
The demand function for a certain make of replacement cartridges for a water purifier is given by the following equation where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p = −0.01x2 − 0.3x + 41 Determine the consumers' surplus if the market price is set at $1/cartridge. (Round your answer to two decimal places.)
The demand function for a certain make of replacement cartridges for a water purifier is given...
The demand function for a certain make of replacement cartridges for a water purifier is given by the following equation where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p = -0.01x^2 - 0.1 x + 48 Determine the consumers' surplus if the market price is set at $6/cartridge. (Round your answer to two decimal places.)
Consumers' Surplus The demand function for a certain make of replacement cartridges for a water purifier...
Consumers' Surplus The demand function for a certain make of replacement cartridges for a water purifier is given by the following equation where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p = −0.01x^2 − 0.2x + 30 Determine the consumers' surplus if the market price is set at $6/cartridge. (Round your answer to two decimal places.)
The demand function for a Christmas music CD is given by q=0.25(225−p^2) where q (measured in...
The demand function for a Christmas music CD is given by q=0.25(225−p^2) where q (measured in units of a hundred) is the quantity demanded per week and pp is the unit price in dollars. (a) Evaluate the elasticity at p=10. E(10)= (b) Should the unit price be lowered slightly from 10 in order to increase revenue?     yes    no    (c) When is the demand unit elastic?  p=______dollars (d) Find the maximum revenue. Maximum revenue =________ hundreds of dollars
Elasticity of Demand for Ink-Jet Cartridges The demand function for a certain make of ink-jet cartridge...
Elasticity of Demand for Ink-Jet Cartridges The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p = −0.07x2 − 0.7x + 6 Compute the elasticity of demand when x = 5. (Round your answer to two decimal places.)
The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2)where q (measured in units...
The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2)where q (measured in units of a hundred) is the quantity demanded per week and p is the unit price in dollars. (a) Find the elasticity function E(p)= _________ (b) Evaluate the elasticity at 10. E(10)= ________ (c) Should the unit price be lowered slightly from 10 in order to increase revenue? Yes or No. (d) Use the elasticity of demand to find the price which maximizes revenue for...
The demand and supply functions for a certain product are given by p=150-0.5q and p=0.002q2+1.5, where...
The demand and supply functions for a certain product are given by p=150-0.5q and p=0.002q2+1.5, where p is in dollars and q is the number of items. (a) Which is the demand function? (b) Find the equilibrium price and quantity (c) Find the total gains from trade at the equilibrium price. with its demand and supply functions, suppose the price is set artificially at $70 (which is above the equilibrium price). (d) Find the quantity supplied and the quantity demanded...
Suppose that the price p (in dollars) of a product is given by the demand function...
Suppose that the price p (in dollars) of a product is given by the demand function p = (18,000 − 60x) / (400 − x) where x represents the quantity demanded and x < 300. f the daily demand is decreasing at a rate of 100 units per day, at what rate (in dollars per day) is the price changing when the price per unit is $30?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT