Question: A monopoly has a total cost function C=500+ 2x2+10x for its product, which has demand function p=-1/3x2-2x+30. Find the consumer's surplus at the point where
A monopoly has a total cost function C=500+ 2x2+10x for its product, which has demand function p=-1/3x2-2x+30. Find the consumer's surplus at the point where the monopoly has maximum profit. In the following equation p and C are in dollars and x is the number of units.
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