Question
The demand function for a certain brand of CD is given by
p = −0.01x2 − 0.2x + 12
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 $9/disc. (Round your answer to two decimal places.)
p = −0.01x2 − 0.2x + 12
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 $9/disc. (Round your answer to two decimal places.)