Use the market represented in Figure 5P-2 to draw the consumer surplus when the price is $5.

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Use the market represented in Figure 5P-2 to draw the consumer surplus when the price is $5. What is the value of consumer surplus at this price?


Figure 5P-2:

Price ($) 15 14 13 12 11 10 4 3 30 10 20 40 50 60 70 80 90 100 Quantity

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Microeconomics

ISBN: 978-1259813337

2nd edition

Authors: Dean S. Karlan, Jonathan J. Morduch

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