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| PAGE: 591 | SET: Exercises | PROBLEM: 9 |
The product(in dollars) equation is 
.
Estimate the sales level when selling price is 
by using graph.
Graph the functions 
and 
.
Graph:
Observe the graph:
The intersecting point is 
.
The sales level when selling price is 
.
Find the consumer surplus for the fallowing demand curve at the sales level 
.
and .
Observe the graph:
.
The sales level when selling price is 
.
Consumer surplus for this sales level is 
.
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