Homework: ASSESS Chapter 1 Homework Score: 0 of 1pt 24 of 41 (40 complete) HW Sc

Question

Homework: ASSESS Chapter 1 Homework Score: 0 of 1pt 24 of 41 (40 complete) HW Score: 93.9%, 38 Concept: Area of a Triangle Question 1 The diagram to the right illustrates a hypothetical demand curve representing thre relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time) 1001 The area of the triangle shown on the diagram is sEnter your response as an integer) 80- 53 20 :37 :70 0 10 20 30 40 50 60 70 80 90 100 Quantity (1,000s of units per unit of time) Enter your answer in the answer box and then click Check Answer All parts showing Question 21 (1/1) earch

Explanation / Answer

Ans) $544,500

Area of a triangle = 1/2 * base * height

Area of the triangle = 1/2 * ( 70,000 - 37,000) * (53 - 20)

= 1/2 * 33,000 * 33

= 544,500

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