-The Demand Function for a Certain Make of Replacement Cartridges

question 33

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 $1/cartridge. Round your answer to the nearest dollar.
​

• A) $22,006
• B) $21,526
• C) $21,445
• D) $21,667

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Definitions:

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Advanced technologies that facilitate the development of new products or enhance the capabilities of existing products or systems.

Explicit Knowledge

Knowledge that is easily articulated, codified, accessed, and verbally communicated to others.

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Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience and context.

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The tendency of an individual or organization to take risks, often evaluated in the context of financial decisions or business strategies.