Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. algebra
  3. in this problem, p is in dollars and x is the numb

In this problem, p is in dollars and x is the number of units.The demand...

60.1K

Verified Solution

Question

Algebra

image

In this problem, p is in dollars and x is the number of units.The demand function for a certain product is p = 121 - x and the supply function is p = x + 6x + 41. Find the equilibrium point.(L(x, p) =Find the consumer's surplus there. (Round your answer to the nearest cent.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

1. Demonstrate the energy production from glucose, fatty acid and amino acids at the cellular level...

Biology
1.2K views

You isolate a new drug that seems to kill bacteria. To understand the mechanism of the...

Biology
1.2K views

Which of the following characteristics do all plants have in common OA unicellular prokaryotic heterotrophic...

Physics
1.2K views

When the rms voltages VL Vc and VR are measured respectively across the inductor L...

Calculus
1.2K views

wy oc cos 0 Yo Find the derivative of the inverse cosine using the theorem...

Algebra
1.2K views

hmic Question 9 4 4 43 Part 1 of 2 HW Score 44 11 points...

Algebra
1.2K views

Find the area of the sector associated with a single slice of pizza if the...

Accounting
1.2K views

Below are the Adjusted Trial Balance of Jasmine Limited as at 31 December 2018. $33,750...

Accounting
1.2K views

Define and discuss opportunity costs and avoidable vs unavoidable costs. Why is it important to...

Finance
1.2K views

The Aubey Coffee Company is evaluating the within-plant distribution system for its new roasting, grinding,...

Finance
1.2K views

40. After thorough research, you conclude that Gore Inc.'s dividend will grow at its present...

Finance
1.2K views

13. Assume you have calculated the NPV of a project your firm is considering. You...