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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.)

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Answer #1

we are given

Demand function:

Supply function:

we can find equilibrium point

we can solve for x

Consumer surplus:

we can set up integral

...........Answer

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