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The price-demand equation for a particular flashlight is given by p = 108 - 0.001x, where a is the number of flashlights demanded when the
The price-demand equation for a particular flashlight is given by p = 108 - 0.001x, where a is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce no flaslights if the price is 72 or less, and they will market 7750 flashlights when the price is 103 per flashlight. (a) Find the consumers' surplus for this commodity. (b) Find the producers' surplus for this commodity. Submit
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