12 of the questions remain unanswered. The price-demand for a Duster (a limited edition ultra-luxury automobile) is given by D(x) 118 0.16x Incorrect incorrect thousand dollars, where x is the number of Dusters that will be demanded at that price. Suppose that the quantity of Dusters will be 350 when supply and demand are at equilibrium. thousand dollars. (a) When supply and demand for Dusters are at equilibrium, we can expect a total of sales will be Dusters will be sold at a price of thousand dollars each. This means that the total revenue from the (b) Consider the formula for computing consumer surplus. In this part, we will just compute the definite integral portion of the formula. Set up the definite integral that will be used, then continue to fill in the blanks to perform the steps to evaluate the integral. Integral for formula: dr (c) Using answers to parts (a) and (b) in the consumer surplus formula, we conclude that the consumer surplus will be Thus, at equilibrium, the consumer surplus for the sale of Dusters will be $ Note: You can earn partial credit on this problem. Preview My Answers Submit Answers Your score was recorded. thousand dollars.
12 of the questions remain unanswered. The price-demand for a Duster (a limited edition ultra-luxury automobile) is given by D(x) 118 0.16x Incorrect incorrect thousand dollars, where x is the number of Dusters that will be demanded at that price. Suppose that the quantity of Dusters will be 350 when supply and demand are at equilibrium. thousand dollars. (a) When supply and demand for Dusters are at equilibrium, we can expect a total of sales will be Dusters will be sold at a price of thousand dollars each. This means that the total revenue from the (b) Consider the formula for computing consumer surplus. In this part, we will just compute the definite integral portion of the formula. Set up the definite integral that will be used, then continue to fill in the blanks to perform the steps to evaluate the integral. Integral for formula: dr (c) Using answers to parts (a) and (b) in the consumer surplus formula, we conclude that the consumer surplus will be Thus, at equilibrium, the consumer surplus for the sale of Dusters will be $ Note: You can earn partial credit on this problem. Preview My Answers Submit Answers Your score was recorded. thousand dollars.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter3: The Derivative
Section3.EA: Extended Application A Model For Drugs Administered Intravenously
Problem 3EA
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