If we know that the demand function of a product is Qd-100-P, where P is the price per product units, and Q is the number of products. a. Calculate the consumer surplus, if the market price is IDR 50 per unit! b. If the market price rises from IDR 50 to IDR 75 per unit, calculate the new consumer surplus. C. Draw items a and b in one diagram.
If we know that the demand function of a product is Qd-100-P, where P is the price per product units, and Q is the number of products. a. Calculate the consumer surplus, if the market price is IDR 50 per unit! b. If the market price rises from IDR 50 to IDR 75 per unit, calculate the new consumer surplus. C. Draw items a and b in one diagram.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
Section: Chapter Questions
Problem 20QP
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If we know that the demand function of a product is Qd-100-P, where P is the price per
product units, and Q is the number of products.
a. Calculate the
b. If the market price rises from IDR 50 to IDR 75 per unit, calculate the new consumer surplus.
C. Draw items a and b in one diagram.
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