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Suppose That a Consumer's Demand Curve for a Good Can

Question 7

Multiple Choice

Suppose that a consumer's demand curve for a good can be expressed as P = 50 - 4Qd. Suppose that the market is initially in equilibrium at a price of $10. What is the consumer surplus at the original equilibrium price?


A) 100
B) 150
C) 200
D) 250.

Correct Answer:

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