The demand for a product, in dollars, is $p = 1400 - 0.1x - 0.003x^2$. Find the consumer surplus when the sales level is 450 units.
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To find the price at a sales level of 450 units, we substitute x = 450 into the demand equation: p = 1400 - 0.1x - 0.0032x^2 p = 1400 - 0.1(450) - 0.0032(450)^2 p = 1400 - 45 - 0.0032(202500) p = 1400 - 45 - 648 p = 707 So, the price at a sales level of 450 units Show more…
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