Since the number of products sold is X = 400, the corresponding price is P = 1400 – (0.6)(400) – (0.002)(400)² = | Therefore, from this definition, the consumer surplus is as follows. (Round your final answer to two decimal places 400 400 [P(x) – P] dx = (1400 – 0.6x – 0.002x² – 840) dx 400 (560 – 0.6x – 0.002x²)dx 1400 = $ |(400) – (0.3)(400)² – (0.002)(400)3 3
Since the number of products sold is X = 400, the corresponding price is P = 1400 – (0.6)(400) – (0.002)(400)² = | Therefore, from this definition, the consumer surplus is as follows. (Round your final answer to two decimal places 400 400 [P(x) – P] dx = (1400 – 0.6x – 0.002x² – 840) dx 400 (560 – 0.6x – 0.002x²)dx 1400 = $ |(400) – (0.3)(400)² – (0.002)(400)3 3
Chapter2: Equations And Inequalities
Section2.7: Linear Inequalities And Absolute Value Inequalities
Problem 64SE: A basic cellular package costs $20/mo. for 60 min of calling, with an additional charge of$0.30/min...
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Question
![The demand for a product, in dollars, is given.
p = 1400 – 0.6x – 0.002x²
Find the consumer surplus when the sales level is 400.
SOLUTION
Since the number of products sold is X = 400, the corresponding price is
P = 1400 – (0.6)(400) – (0.002)(400)² =
Therefore, from this definition, the consumer surplus is as follows. (Round your final answer to two decimal places.)
400
400
[P(x) – P] dx
(1400 – 0.6x – 0.002x2 – 840) dx
400
(560 – 0.6x – 0.002x²)dx
1400
= $
|(400) – (0.3)(400)² – (0.002)(400)3
3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F54c0955c-3368-4368-bfcb-971e6ab7de14%2F377f9213-c1f4-45ad-8b7a-76aa65e558fc%2Fzchm6z_processed.png&w=3840&q=75)
Transcribed Image Text:The demand for a product, in dollars, is given.
p = 1400 – 0.6x – 0.002x²
Find the consumer surplus when the sales level is 400.
SOLUTION
Since the number of products sold is X = 400, the corresponding price is
P = 1400 – (0.6)(400) – (0.002)(400)² =
Therefore, from this definition, the consumer surplus is as follows. (Round your final answer to two decimal places.)
400
400
[P(x) – P] dx
(1400 – 0.6x – 0.002x2 – 840) dx
400
(560 – 0.6x – 0.002x²)dx
1400
= $
|(400) – (0.3)(400)² – (0.002)(400)3
3
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