Question: For a consumer with demand function q = 100 - 5p1/2, find: (a) CS (consumer surplus) at price po = 9 (b) CS at price

For a consumer with demand function q = 100 - 5p1/2,

For a consumer with demand function q = 100 - 5p1/2, find: (a) CS (consumer surplus) at price po = 9 (b) CS at price P = 4 (c) ACS resulting from the price change po = 9 to p = 4 Illustrate your results with a graph

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1. What is the meaning of the information we are collecting?

3. How much information do we need to collect?