If the inverse demand function for toasters isp= 120 - 0.5q,what is the consumer surplus if the price is 10?Consumer surplus (CS) is $- (Enter your response as an integer.)остHétvMacBook Air80DIIDDF1F2F3F4F5F6F7F8F9#32$&34578WRTYU* CO< CO

Consumer surplus is the area above the price and below the demand curve.

Answered: If the inverse demand function for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the inverse demand function for toasters is p = 120 - 0.5q, what is the consumer surplus if the price is 10? Consumer surplus (CS) is $ (Enter your response as an integer.)