Multiple Choice
Sam has quasilinear preferences and his demand function for x is D(p) = 15 -p/3.The price of x is initially $15 per unit and increases to $24 per unit.Sam's change in consumer's surplus is closest to
A) -168.
B) -76.
C) -27.
D) 75.
E) Sam won't consume x at either of the prices.
Correct Answer:
Verified
Correct Answer:
Verified
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