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 - 0.2 x + 56
Determine the consumers' surplus if the market price is set at $8/cartridge. (Round your answer to two decimal places.)
Hi, Please find your answers attached herewith. If you do not like our answers... View the full answer