The Demand Function for a Certain Brand of Compact Disc

question 95

Multiple Choice

The demand function for a certain brand of compact disc is given by 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 if the wholesale market price is set at $2/disc.Round your answer to the nearest dollar.

• A)$16,346
• B)$16,790
• C)$16,880
• D)$16,667

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Definitions:

Smooth Muscle

A type of muscle found in the walls of internal organs and blood vessels that is not under conscious control.

Arrector Pili

Small muscles attached to hair follicles in mammals; their contraction causes hair to stand up, known as "goosebumps."

Voluntary Control

The conscious regulation of skeletal muscles and movements by the brain, permitting actions like walking, speaking, and grabbing.

Nervous Tissue

Specialized tissue that makes up the central and peripheral nervous systems, consisting of neurons and supporting cells, responsible for transmitting nerve signals.