Multiple Choice
Suppose that the demand curve for an advanced technology product for businesses is given by P =10,000 - 4Q3 and supply is P = 2,000 + 4Q3. The consumer surplus at the equilibrium price is ____.
A) $6,000
B) $10
C) $70,000
D) $30,000
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q11: (Figure: Price and Quantity V) For demand
Q12: Suppose the demand and supply curves for
Q13: (Figure: Market for Tickets I) Which of
Q14: The demand curve for pizza on the
Q15: Explain why taxes cause deadweight losses.
Q17: (Figure: Market for Tickets II) The government
Q18: (Figure: Market for Tickets II) Before the
Q19: To calculate consumer surplus for the case
Q20: (Figure: Market for Ammunition I) Assuming the
Q21: If the government subsidizes a product, what