Math Problem Statement

Consumers' Surplus The demand function for a certain brand of CD is given by p = −0.01x2 − 0.2x + 33 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus (in dollars) if the market price is set at $9/disc. (Round your answer to two decimal places.)

Solution

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Math Problem Analysis

Mathematical Concepts

Consumer Surplus
Demand Function
Integral Calculus

Formulas

Quadratic formula

Theorems

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Suitable Grade Level

Advanced High School