An economist studying the demand for a particular commodity gathers the data in the accompanying table, which
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An economist studying the demand for a particular commodity gathers the data in the accompanying table, which lists the number of units q (in thousands) of the commodity that will be demanded (sold) at a price of p dollars per unit. Use this information together with Simpson’s rule to estimate the consumers’ surplus when 24,000 units are produced, that is, when q0 = 24.
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9 p Dg 0 4 4912 4290 8 12 16 20 3132 19...View the full answer
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Related Book For 
Calculus For Business, Economics And The Social And Life Sciences
ISBN: 9780073532387
11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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