Solution-Explain the demand function for a certain brand of

Explain the demand function for a certain brand of cd

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Reference no: EM131637199

Question: PRODUCERS' SURPLUS The supply function for the CDs of Exercise is given by

p = 0.01x² + 0.1x + 3

Where p is the unit wholesale price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Determine the producers' surplus if the wholesale market price is set at the equilibrium price.

Exercise: CONSUMERS' SURPLUS The demand function for a certain brand of CD is given by

p = -0.01x² - 0.2x + 8

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 market price is set at $5/disc.

Reference no: EM131637199

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Explain the demand function for a certain brand of cd

Reference no: EM131637199

Reference no: EM131637199

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