The demand function for a product is given by p = −0.05x2− 0.3x + 8 where p is the unit price in dollars and x is the weekly demand for the product each week, measured in thousands of units. find the consumer’s surplus if the market price for the product is $5.

The answer is 5300 units.

Step-by-step explanation:

The equation will be exactly lie below if the price is 5$:

Roots of the parabol will be:

In fact that there will be no negative production, The consumer surplus will be 5300 units

d

step-by-step explanation:

system of linear equation

step-by-step explanation:

as given in the data

a= 20 , b= -12

let us suppose that it is a straight line equation

now we know the formula for the system of linear equation

b= ma + c )

here m is slope of a straight line which is equal to formula

m=   (ii)

and here c is a constant

now putting the value of a and b in equation (ii)

m=

m=

putting the value of a,b and m in equation (i) gives us

-12 = + c

-12=-12 + c

adding 12 to both sides

-12 +12 = -12 +12 +c

0 =c

or c=0

as the value of the constant is zero which gives us that it is a linear equation and this order pair satisfies the system of linear equations.