Answered: If the current market price is $8,…

If the current market price is $8, average income is $40,000 and the demand curve is Qd = 120-4P +.001, how to you find the market's total demand curve and market's consumer surplus?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 22QP

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If the current market price is $8, average income is
$40,000 and the demand curve is Qd = 120-4P
+.001, how to you find the market's total demand
curve and market's consumer surplus?

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