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19 March, 04:43

Calculate the consumer surplus for the demand function

P = 50 - 4Q

when the market price is P = 10.

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Answers (2)
  1. 19 March, 04:55
    0
    P = 50 - 4Q

    10 = 50 - 4Q

    rearranging we get:

    4Q = 50 - 10

    4Q = 40

    Q = 10
  2. 19 March, 05:06
    0
    P = 50 - 4Q

    P = 10

    Plug in 10 for 'P':

    10 = 50 - 4Q

    Subtract 50 to both sides:

    -40 = - 4Q

    Divide - 4 to both sides:

    Q = 10
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