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4 December, 03:08

The consumer expenditure, in dollars, for a commodity is the product of its market price, p, and the number of units demanded, x. Suppose that for a certain commodity, the consumer expenditure is given by

13,000p - 135p^2.

(a) Factor this in order to find an expression for the number of units demanded. (Simplify your answer completely.)

x =

(b) Use (a) to find the number of units demanded when the market price is $36.

x =

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Answers (1)
  1. 4 December, 03:26
    0
    (a) x = 13000 - 135p

    (b) x = 8140

    Step-by-step explanation:

    (a) consumer expenditure = 13000p - 135p^2 = p (13000 - 135p)

    = px

    so, x = 13000 - 135p

    __

    (b) Filling in p=36, we find ...

    x = 13000 - 135·36

    x = 8140
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