In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function C = 1,000 + 108x + 12x2 for its product, which has demand function p = 324 - 3x - 2x². Find the consumer's surplus (in dollars) at the point where the monopoly has maximum profit. (Round your answer to the nearest cent.) $ 280

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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Sidenote: hi already has this question and The answer provide it was incorrect. Can you please make sure it’s not the same answer as in the picture
In this problem, p and C are in dollars and x is the number of units.
A monopoly has a total cost function C = 1,000 + 108x + 12x2 for its product, which has demand function p = 324 – 3x – 2x².
Find the consumer's surplus (in dollars) at the point where the monopoly has maximum profit. (Round your answer to the nearest
cent.)
$ 280
Transcribed Image Text:In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function C = 1,000 + 108x + 12x2 for its product, which has demand function p = 324 – 3x – 2x². Find the consumer's surplus (in dollars) at the point where the monopoly has maximum profit. (Round your answer to the nearest cent.) $ 280
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