The Demand Equation for the Sicard Sports Watch Is Given

question 5

Multiple Choice

The demand equation for the Sicard sports watch is given by where x (measured in units of a thousand) is the quantity demanded per week and p is the unit price in dollars. Use the Trapezoidal Rule (take n = 8) to estimate the consumers' surplus if the market price is $25/watch. Round answer to two decimal places.

• A) $392,373.56
• B) $142.37
• C) $142,373.56
• D) $367,373.56

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