For the given supply and demand equations, find the consumer surplus.
Demand
p = 140 – 0.00006x
Supply
p = 100 + 0.00004x

a.$4,800,000
b.$5,280,000
c.$5,760,000
d.$7,200,000
e.$3,200,000

Question

For the given supply and demand equations, find the consumer surplus.
Demand                           
   p = 140 – 0.00006x 
Supply
   p = 100 + 0.00004x

a.$4,800,000
b.$5,280,000
c.$5,760,000
d.$7,200,000
e.$3,200,000

anonymous · Answer

a

anonymous · Answer

Ok so I did the same thing on the last problem I thought and got x=400000 and p=116...but then when I did the multiplication I had a number in the thousands?

anonymous · Answer

u should take away 116 from the price on the demand equation which will give 24. Then 24*400000*.5

anonymous · Answer

Oh ok that's where I made the mistake then.... Thank you very much!

anonymous · Answer

u r welcome

anonymous · Answer

Just fanned you!