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Suppose the inverse market demand for silicone replacement tips for earbud headphones is p = pN - 0.1Q, where p is the price per pair of replacement tips, pN is the price of a new pair of headphones, and Q is the number of tips per week. Suppose the inverse supply function of the replacement tips is p = 2 + 0.012Q. If pN = $30, how much is the Consumer Surplus.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9473702

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