The Demand Function for a Certain Product Is and the Supply

question 27

Multiple Choice

The demand function for a certain product is and the supply function is where p is in millions of dollars and x is the number of thousands of units. Find the equilibrium point (x, p) and the consumer's surplus there. Round your answer to the nearest million dollars, where applicable. ​

• A)Equilibrium point: (4, 70); Consumer's surplus: 43 million dollars
• B)Equilibrium point: (6, 70); Consumer's surplus: 129 million dollars
• C)Equilibrium point: (30, 70); Consumer's surplus: 215 million dollars
• D)Equilibrium point: (4, 30); Consumer's surplus: 199 million dollars
• E)Equilibrium point: (6, 30); Consumer's surplus: 113 million dollars

---

Definitions:

Genetic Blueprint

The set of genes and genetic information in an organism that determines its characteristics and traits.

Maturation

The process of development in which an organism grows or becomes more advanced physically, mentally, or emotionally, often as a function of age.

Premature Birth

The birth of a baby before the completion of the normal gestation period, often defined as before 37 weeks of pregnancy.

Motor Development

The progression of muscle coordination, strength, and movement patterns that enable physical activities and tasks over the course of a person's life.