Question: Suppose the demand function for apple is given by Q = 500 - 4P a. Write the inverse demand curve for this function b. If

Suppose the demand function for apple is given by

Q = 500 - 4P a. Write the inverse demand curve for this function b. If P = $50, calculate the consumer surplus c. Now id P = $35, calculate the consumer surplus. d. Now, let suppose the price of apple falls, what happens to consumer surplus?

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