The demand function for a certain brand of mattress is given by where p is the u

Question

The demand function for a certain brand of mattress is given by where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month. (Round your answers to the nearest integer.) (a) Find the number of mattresses demanded per month if the unit price is set at $400/mattress. (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $400 per mattress. The management of the Titan Tire Company has determined that the quantity demanded x of their Super Titan tires/week is related to the unit price p by the relation where p is measured in dollars and x is measured in units of a thousand. Titan will make x units of the tires available in the market if the unit price is dollars. Determine the consumers' surplus and the producers' surplus when the market unit price is set at the equilibrium price. (Round your answers to the nearest dollar.)

Explanation / Answer

The demand function for a certain brand of mattress is given by where p is the u

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