Consider the inverse demand curve: p= 80 - 1Q. Assume the market price is $10.00. Calculate consumer surplus at the equilibrium market price and quantity. Consumer surplus (CS) is $ (Enter your response rounded to two decimal places.)
Consider the inverse demand curve: p= 80 - 1Q. Assume the market price is $10.00. Calculate consumer surplus at the equilibrium market price and quantity. Consumer surplus (CS) is $ (Enter your response rounded to two decimal places.)
Chapter3: Market Demand And Supply
Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency
Problem 16SQ
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