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The demand for a good is given by: QD=165-0.5P. The inverse demand for this good is: P=330-20D. The supply for this good is g

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Answer #1

Answer
P=160
Qd=165-0.5*160=85


consumer surplus is the area above price and below the demand curve
CS=0.5*(Y-axis intercept of the demand curve -P)*Qd
=0.5*(330-160)*85
=$7225
the consumer surplus is 7225

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