Multiple Choice
The market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2,where both quantities are measured in millions of gallons per year.What is the consumer surplus at the competitive market equilibrium?
A) $4.5 million
B) $9 million
C) $13.5 million
D) $18 million
Correct Answer:
Verified
Correct Answer:
Verified
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