The demand curve for product X is given by Qx = 200 - 4Px Find the...

Question

Question

The demand curve for product X is given by Q_x = 200 - 4P_x
1. Find the inverse demand curve.
2. How much consumer surplus do consumer receive when P_x = $30?
3. In general, what happens to consumer surplus as the price of good rises?

Answer 1

Answer #1

Answer 2

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