The demand curve for product x is given by qxd 300

Economics

The demand curve for product X is given by QXd = 300 - 2PX. a. Find the inverse demand curve. PX = - QXd Instructions: Round your answer to the nearest penny (2 decimal places). b. How much consumer surplus do consumers receive when Px = $45? $ c. How much consumer surplus do consumers receive when Px = $30? $ d. In general, what happens to the level of consumer surplus as the price of a good falls?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91952068

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