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. (40 points) Mikes demand for apples is given by QMike(P) 16 P for P 16 Jacks demand for apples is QJack(P) 20 2P for P (a(c) What is Mikes consumer surplus if P 8 and he maximizes utility? (d) What is Jacks consumer surplus if P 8 and he maximi

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Answer #1

1. Mkes demand Curire Jack20-2p demand cuaw Jacko So 6 IG-P ar Pric PS 1O /6-P MiK 16-P Markaltuco 16 的拟Jack Jack 2.0-2P L o Lus Per Macet dena da area (Ab)Coe 16 36-3P P s lo 02 P- 8 CSra (ABC) 2 24X c.S32 Jauk 10 A 日2 20-218 Pe 8 2 4 A BC 4- (10-8) 2. 4 US .e) for ei otal lauunen Suplus uses nied to haue P1 Maket dunad cua So ぬ at p. 6 16-1 210 8-36-318 2 36-24 pnic, p2a Ceruumu,

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