The Demand Function for a Certain Make of Replacement Cartridges

question 20

Multiple Choice

The demand function for a certain make of replacement cartridges for a water purifier is given by where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand.Determine the consumers' surplus if the market price is set at $5/cartridge.Round your answer to the nearest dollar.

• A)$16,333
• B)$16,800
• C)$16,667
• D)$16,886

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Definitions:

Debriefing

An explanation and discussion of the purposes, methods, and findings of a study with its participants after their involvement in the research.

Informed Consent

A process by which individuals are fully informed about the procedures, risks, benefits, and alternatives of a certain action or decision, and voluntarily agree to it.

Data Collection

The process of systematically gathering and measuring information from various sources to gain insights or answer questions.

Within-Subject Design

A research design in which the same group of subjects is exposed to all treatments or conditions, allowing direct comparison of different interventions on the same people.