Question: QUESTION 10 Consider a perfectly competitive market for a normal good in which the demand curve is given by the equation P = 3a Q

QUESTION 10 Consider a perfectly competitive market for a normal good in which the demand curve is given by the equation P = 3a Q and the supply curve is given by the equation P = a + Q, where a is a positive integer greater than 1. With regard to equilibrium price and equilibrium quantity, let consumer surplus be denoted C S and producer surplus be denoted PS. Then (CS / PS ) equals 00 Ga 1 O 1 a

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