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Determine the change in consumers surplus

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Reference no: EM131587723

Question: Application exercise. Suppose that the inverse demand function for a good is given by

p = (125/q)1/3

Where P Denotes The Price In Dollars Per Unit Of The Good And Q Denotes The quantity of the good purchased. Determine the change in consumers' surplus when the price declines from $27 to $8.

Reference no: EM131587723

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