The Demand Function for a Certain Make of Replacement Cartridges

question 74

Short Answer

The demand function for a certain make of replacement cartridges for a water purifier is given by
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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.
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CS = $__________

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Definitions:

Total Manufacturing Costs

The sum of all costs directly involved in the production of goods, including direct materials, direct labor, and manufacturing overhead.

Current Year

The present calendar year, within which all immediate or current financial, business, or calendar activities are considered.

Cost of Goods Manufactured

The cost of goods manufactured represents the total production cost of goods completed during an accounting period, including materials, labor, and overhead.

Current Year

Refers to the ongoing calendar or fiscal year in context, utilized for reporting, accounting, and planning purposes.