Find the inverse demand curve? how much consumer surplus do, Ask an Expert

Economics

The demand curve for product X is given by Qdx = 460 - Px

a) Find the inverse demand curve?

b) How much consumer surplus do consumers receive when Px = $35?

c) How much consumer surplus do consumers receive when Px = $25?

d) In general, what happens to the level of consumer surplus as the price of goods falls?

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Microeconomics, Economics

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