Question: The market for gadgets is described by the demand function Q = 2 0 0 5 P . Gadgets are produced only by the Gadgetry

The market for gadgets is described by the demand function Q

= 200 5

.

Gadgets are produced only by the Gadgetry Ministry, and given away for free to the people who value them the most. The marginal cost of producing a gadget is $

10 .

If the ministry decides to produce

70

gadgets, what is the total benefit of the project to the consumers?

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