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December 21, 2014

Homework Help: Math [Consumer Surplus]

Posted by Ali on Friday, November 30, 2012 at 6:34pm.

The demand function for a certain brand of blank digital camcorder tapes is given by

p=−0.02x^2−0.1x+24

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 wholesale unit price is 21 dollars per tape.

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