In Problem 1, Sir Plus has a demand function for mead that is given by the...
In Problem 1, Sir Plus has a demand function for mead that is given by the equation D(p) = 100 - p. If the price of mead is $85, how much is Sir Plus’s net consumer’s surplus?
Homework Answers
AB =100-85=15
BC=15
Intercept of the demand curve=100
Consumer surplus=112.5
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