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(Figure: Price and Quantity V) Answer the Following Questions

Question 2

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(Figure: Price and Quantity V) Answer the following questions. (Figure: Price and Quantity V) Answer the following questions. a. For demand curve D<sub>1</sub>, what is the level of consumer surplus at a price of $40? b. For demand curve D<sub>2</sub>, consumer surplus is $6,400 at a price of $40. What is the demand choke price?
a. For demand curve D1, what is the level of consumer surplus at a price of $40?
b. For demand curve D2, consumer surplus is $6,400 at a price of $40. What is the demand choke price?

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