Multiple Choice
Sir Plus has a demand function for mead that is given by the equation D(p) = 100 - p.If the price of mead is $60, how much is Sir Plus's net consumer's surplus?
A) $40
B) $800
C) $1,600
D) $400
E) $3,900
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q14: If there is a price increase for
Q15: Quasimodo from your workbook has the utility
Q16: Izaak likes to eat pizza and to
Q17: Bernice has the utility function u(x, y)=
Q18: If there is a price increase for
Q20: Izaak likes to eat pizza and to
Q21: If Bernice (whose utility function is min{x,
Q22: The indirect utility function for a consumer
Q23: Reginald is fond of cigars.His utility function
Q24: Sam has quasilinear preferences and his demand