If the inverse demand function for toasters isp= 120 - 2q,what is the consumer surplus if the price is 40?Consumer surplus (CS) is $. (Enter your response as an integer.)Reaction27étvMacBook Air80DIIDDF1F2F3F4F5F6F7F8F9F10F11!@#3$&12478Q{[WEYUASFGJKZCVMotioncommarcommandoptionレV

Demand equation: - demand equation is the mathematical equation that shows the relationship between…

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If the inverse demand function for toasters is p= 120 - 24, what is the consumer surplus if the price is 40? Consumer surplus (CS) is $ (Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If the inverse demand function for toasters is
p= 120 - 2q,
what is the consumer surplus if the price is 40?
Consumer surplus (CS) is $. (Enter your response as an integer.)
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