Jacob Lawrence is an economist who models the demand for a particular commodity by the function

where q hundred units are sold when the price is p dollars per unit. He decides to use Simpson’s rule with n = 6 to estimate the consumers’ surplus for the commodity when 500 units (q₀ = 5) are manufactured and sold. What result does Jacob obtain?

Transcribed Image Text:

p = D(q) 100 q² + q + 1