Hulk has a kebab demand function with D(p)= 500-p, where p is the price of the kebab. The cost of a kebab is $50, so: a. If the price of a kebab is $50, then how many kebabs will there be consumed by Hulk? b. What is the maximum consumption of the Hulk? c. What's the max price Hulk can pay?
Hulk has a kebab demand function with D(p)= 500-p, where p is the price of the kebab. The cost of a kebab is $50, so: a. If the price of a kebab is $50, then how many kebabs will there be consumed by Hulk? b. What is the maximum consumption of the Hulk? c. What's the max price Hulk can pay?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. Hulk has a kebab demand function with D(p)= 500-p, where p is the price of the kebab. The cost of a kebab is $50, so:
a. If the price of a kebab is $50, then how many kebabs will there be consumed by Hulk?
b. What is the maximum consumption of the Hulk?
c. What's the max price Hulk can pay?
d. How much Gross
e. How much Net Consumer surplus can Hulk achieve?
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