Question

Consumer Surplus Help

Answer 1

A manufacturer of machinery parts determines that q units of a particular piece will be sold when the price is p=110−q dollars per unit. The total cost of producing those q units is C(q) dollars, where C(q)=q^3−30q^2+5q+5000.

Find the consumers' surplus for the level of production q0 that corresponds to maximum profit.

Answer 2

I already found that q is maximized at 21 units. And that the profit function is -q^3+29q^2+105q-5000.

Answer 3

I'm getting 155.0000 trillion dollars, but I'm not much for econometrics.