The Demand Function for a Product Is Where P

question 74

Multiple Choice

The demand function for a product is where p is in millions of dollars and x is the number of thousands of units. If the equilibrium price is $6 million, what is the consumer's surplus? Round your answer to the nearest million dollars. ​

• A) 114 million dollars
• B) 149 million dollars
• C) 83 million dollars
• D) 88 million dollars
• E) 174 million dollars

---

Definitions:

Scholarly Research

Systematic investigation designed to expand knowledge, conducted by researchers or experts in a particular field.

Needs

Essential or very important requirements or conditions for people or organisms to live, thrive, or achieve a certain state.

Research Writings

Texts that document and discuss the findings, methods, and implications of scientific or academic inquiries.

Reported

Information that has been presented or relayed by someone, typically referring to the conveyance of events, activities, or findings.