The Demand function for a product is pd(q) = 80(0:1q + 0:2)2, where q is in millions of tons and pd(q) is in dollars per ton. Market equilibrium occurs at the demand for 18 million tons. Compute consumer's surplus.
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The Demand function for a product is pd(q) = 80(0:1q + 0:2)2, where q is in millions of tons and pd(q) is in dollars per ton.
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