Question: The demand curve for product X is given by Qdx

The demand curve for product X is given by Qdx = 300 - 2Px.
a. Find the inverse demand curve.
b. How much consumer surplus do consumers receive when Px = $ 45?
c. How much consumer surplus do consumers receive when Px = $ 30?
d. In general, what happens to the level of consumer surplus as the price of a good falls?


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  • CreatedApril 18, 2014
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