4. Let (inverse) demand be Pb = 98-3 Qb and (inverse) supply be Pv = 15+ 4 Qv. How much consumer surplus does the first consumer to purchase receive? Answer: your answer Price ($) $160 $140 $120 $100 $80 $ 60 $ 40 $20 $0 desses 5 Submit Demand 10 Quantity 15 Supply Quantity 20 Eqm 25 30 35

4. Let (inverse) demand be Pb = 98-3 Qb and (inverse) supply be Pv = 15+ 4 Qv. How much consumer surplus does the first consumer to purchase receive? Answer: your answer Price ($) $160 $140 $120 $100 $80 $ 60 $ 40 $20 $0 desses 5 Submit Demand 10 Quantity 15 Supply Quantity 20 Eqm 25 30 35

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 3.4P

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Question

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4.
Let (inverse) demand be Pb = 98 - 3 Qb and (inverse) supply be Pv = 15 + 4 Qv. How much
consumer surplus does the first consumer to purchase receive?
Answer: your answer
Submit
Price ($)
$ 160
$140
$ 120
$100
$80
$ 60
$ 40
$ 20
$0
0
01
5
Demand
10
Quantity
15
Supply
Quantity
20
Eqm
25
30
35

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