Let the inverse demand curve for tennis classes is p 90 -, Ask an Expert

Economics

Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q.

a) If the equilibrium price is $15, calculate the optimal quantity and the consumer surplus.

b) If price increase to $30, calculate the optimal quantity and the new consumer surplus.

c) Suppose the club decides to include a membership, what is the maximum membership that the club can fix with the new price?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91238395

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