Question

Calculate the consumers' surplus at the indicated unit price p for the demand equation.(Round your answer to the nearest cent.) q = 20 − 0.05p^2; p = 4

Answer 1

If p=4, plug in 4 to the equation.

1. q= 20 - 0.05 * 4^2
2. q= 20 - 0.05 * 16
3. q= 20 - 0.8
4. q= 19.2