If we know that the demand function of a product is Qd-100-P, where P is the price per product units, and Q is the number of products. a. Calculate the consumer surplus, if the market price is IDR 50 per unit! b. If the market price rises from IDR 50 to IDR 75 per unit, calculate the new consumer surplus. C. Draw items a and b in one diagram.

If we know that the demand function of a product is Qd-100-P, where P is the price per product units, and Q is the number of products. a. Calculate the consumer surplus, if the market price is IDR 50 per unit! b. If the market price rises from IDR 50 to IDR 75 per unit, calculate the new consumer surplus. C. Draw items a and b in one diagram.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 20QP

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