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Homework: Chapter 1 Score: 0 of 1 pt Concept: Area of a Triangle Homework 24 of 41 (38 complete) HW Score: 92.68 Ques The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). 1001 (Enter your response as an The area of the triangle shown on the diagram is integer.) 70 50 30125 40 65 10 20 30 40 50 60 70 80 90 Quantity (1,000s of units per unit of time)
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Answer #1

Area of triangle = (1/2)(65,000-40,000)(50-25)

= (0.5)(25,000)(25)

= $ 312,500

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