7. Let (inverse) demand be Pb = 105 - 1 Qb and (inverse) supply be Pv = 16 + 3 Qv. How much consumer surplus does the last consumer to purchase (at Q*) receive? Answer: your answer Submit Price ($) $350 $300 $250 $200 $150 $100 $50 $0. -O 0 20 20 Demand Quantity 40 Supply 60 Quantity Eqm 80 100 120

7. Let (inverse) demand be Pb = 105 - 1 Qb and (inverse) supply be Pv = 16 + 3 Qv. How much consumer surplus does the last consumer to purchase (at Q*) receive? Answer: your answer Submit Price ($) $350 $300 $250 $200 $150 $100 $50 $0. -O 0 20 20 Demand Quantity 40 Supply 60 Quantity Eqm 80 100 120

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

....

7.
Let (inverse) demand be Pb = 105 - 1 Qb and (inverse) supply be Pv = 16 + 3 Qv. How much
consumer surplus does the last consumer to purchase (at Q*) receive?
Answer: your answer
Submit
Price ($)
$350
$300
$250
$200
$150
$100
$50
$0
0
20
O
Demand
40
Supply
60
Quantity
Eqm
80
100
120

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