The Demand Function for a Product Is Where P

question 266

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

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Definitions:

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External factors that affect an individual's development, behavior, and lifestyle, including social, cultural, and physical environments.

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