The demand function for a certain model of Blu-ray player is given by p = 600 0.5x + 2 where p is the unit price in dollars and x (in units of a thousand) is the quantity demanded per week. What is the consumers' surplus if the selling price is set at $200/unit? (Round your answer to the nearest dollar.)

The demand function for a certain model of Blu-ray player is given by p = 600 0.5x + 2 where p is the unit price in dollars and x (in units of a thousand) is the quantity demanded per week. What is the consumers' surplus if the selling price is set at $200/unit? (Round your answer to the nearest dollar.)

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter14: Pricing Techniques And Analysis

Section: Chapter Questions

Problem 2E: The price elasticity of demand for air travel differs radically from first-class (1.3) to...

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