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 dollars.

?

CS = $__________

?

PS = $__________



What will be an ideal response?


341,333; 170,667

Mathematics

You might also like to view...

Write an absolute value function that is equivalent to the given piecewise function.f(x) = 

A. f(x) = - - 70
B. f(x) =  + 70
C. f(x) = - + 70
D. f(x) = - + 70

Mathematics

The following comparison line graph indicates the number of vehicles sold for a seven week period by two different salespeople. Use the graph to answer the question.During what week did Pat sell the fewest number of vehicles?

A. Week 1 B. Week 3 C. Week 7 D. Week 5

Mathematics

Multiply. Write the answer in simplest form. × 

A.
B.
C.
D.

Mathematics

Solve the problem.If $3500 is invested in an account that pays interest compounded continuously, how long will it take to grow to $10,500 at 9%?

A. 15.1 yr B. 8.0 yr C. 12.2 yr D. 9.9 yr

Mathematics