The Demand Function for a Product Is Where P

question 87

Multiple Choice

The demand function for a product is where p is in millions of dollars and x is the number of thousands of units. If the equilibrium price is $6 million, what is the consumer's surplus? Round your answer to the nearest million dollars. ​

• A)114 million dollars
• B)149 million dollars
• C)83 million dollars
• D)88 million dollars
• E)174 million dollars

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Definitions:

Yemeni Culture

The rich and diverse cultural heritage of Yemen, characterized by traditional music, dance, attire, and social norms deeply rooted in its history and Islamic beliefs.

Left Hand

Often used metaphorically to represent skills or tasks that are less dominant or secondary to one's main abilities.

Dry Fruits

Dehydrated fruits with most of the water content removed through drying methods, resulting in a more concentrated flavor and longer shelf life.

High-context Culture

Cultures where communication relies heavily on the context, including non-verbal cues and the shared knowledge, rather than just the words.