suppose demand is given by P-120-5Q if the price drops from 80 per unit to 60 what is the change in consumer surplus

Question

suppose demand is given by P-120-5Q if the price drops from 80 per unit to 60 what is the change in consumer surplus

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Tài Đức 4 years 2021-08-04T09:57:38+00:00 1 Answers 13 views 0

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  1. Eirian
    0
    2021-08-04T09:59:33+00:00
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    Answer:

    4

    Step-by-step explanation:

    p=120 -5Q

    when p = 80

    80 = 120 -5Q

    Q=8

    and when p= 60

    60 = 120 -5Q

    Q=12

    so, change in consumer surplus = 12-8

    = 4

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