Factory orders for an air conditioner are about 4000 units per week when the price is $350 and about 6000 units per week when the price is $325. The supply function is given by p = 0.0275x. Find the consumer and producer surpluses. (Assume the demand function is linear.)
Factory orders for an air conditioner are about 4000 units per week when the price is $350 and about 6000 units per week when the price is $325. The supply function is given by p = 0.0275x. Find the consumer and producer surpluses. (Assume the demand function is linear.)
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 5ECP
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Factory orders for an air conditioner are about 4000 units per week when the price is $350 and about 6000 units per week when the price is $325. The supply function is given by
p = 0.0275x.
Find the consumer and producer surpluses. (Assume the demand function is linear.)
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