The Demand Function for a Product Is , Where

question 172

Multiple Choice

The demand function for a product is , where p is the number of dollars and x is the number of units. If the equilibrium price is $40, what is the consumer's surplus? ​

• A) $1,175
• B) $1,250
• C) $1,375
• D) $1,220
• E) $1,340

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Definitions:

Membership Intensity

The level of participation and engagement an individual has within a group, organization, or community.

Affiliation Bonding

the formation of a social connection or relationship between individuals based on shared interests or goals.

Antibrand Community

A group of consumers unified by their shared disdain or opposition to a particular brand or product.

Hate Community

A group of individuals who come together on social media or online platforms based on shared dislike or hatred towards a particular concept, individual, or group.