Essay
Scenario 7-2
Suppose market demand and market supply are given by the equations:
QD = 40 - P
QS = P - 4
-Refer to Scenario 7-2. How much is total consumer surplus at the equilibrium price in this market?
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Q136: Figure 7-11<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt="Figure 7-11