The demand function for a certain product is given by p = -0.01x² - 0.2x + 10, where p represents the unit price in dollars and x is the quantity demanded measured in units of a thousand. Determine the consumer surplus if the price is set at $2.

formula:
consumer's surplus:

The consumer's surplus is given by

D is the demand function

p is the unit market price

is the guantity sold  

Transcribed Image Text:

CS = f Dx) d x-px CS = f Dx) d x-px

Answer rating: 100% (QA)

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