Solved

The Market Price of a Good Is $10 and 40

Question 179

Multiple Choice

The market price of a good is $10 and 40 units of the good sell at this price. Its demand curve intersects the vertical axis at a price of $12 and has a constant slope. What is the approximate value of consumer surplus in this market?


A) $20
B) $30
C) $40
D) $50

Correct Answer:

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