Question: Consider an individual with the following demand function: 581 = 150 5P1 At a price: p1 =7, what is the consumer surplus? [Write your answer

Consider an individual with the following demand function: 581 = 150

Consider an individual with the following demand function: 581 = 150 5P1 At a price: p1 =7, what is the consumer surplus? [Write your answer in the box below] (Hint: We typically graph inverse demand function.)

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