The following table shows the willingness to pay for a good for the only four consumers in a market. Consumer Willingness to Pay $25 $40 $15 D $30 a. If the price of the good is $30, how many units will be demanded? b. If the price of the good is $30, how much is the total consumer slurplus? A B IC
The following table shows the willingness to pay for a good for the only four consumers in a market. Consumer Willingness to Pay $25 $40 $15 D $30 a. If the price of the good is $30, how many units will be demanded? b. If the price of the good is $30, how much is the total consumer slurplus? A B IC
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 1DQ
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