Question: Recall from the previous chapter that the consumers surplus is defined by where D(q) is the demand function, q 0 is the equilibrium quantity, and
Recall from the previous chapter that the consumers’ surplus is defined by
where D(q) is the demand function, q0 is the equilibrium quantity, and p0 = D(q0) is the equilibrium price. Find the consumers’ surplus for each of the following demand functions and equilibrium quantities.
D(q) = 10 - ln(q + 2), q0 = e4 - 2
90 [D(q) - poldq,
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