In this problem, p is in dollars and x is the number of units. If the demand function for a product isp = 9/(x + 1) and the supply function is p = 1+ 0.2x, find the consumer's surplus under pure competition. (Round your answer to the nearest 2$

In this problem, p is in dollars and x is the number of units. If the demand function for a product isp = 9/(x + 1) and the supply function is p = 1+ 0.2x, find the consumer's surplus under pure competition. (Round your answer to the nearest 2$

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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In this problem, p is in dollars and x is the numbey of units.
If the demand function for a product isp = 9/(x + 1) and the supply function is p = 1 + 0.2x, find the consumer's surplus under pure competition. (Round your answer to the nearest c
24

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