What is the value of consumer surplus at the given price

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Reference no: EM131916063

Problem

1. Use the market represented in to draw the consumer surplus when the market price is $8. What is the value of consumer surplus at this price?

2. Based on Figure 5P-1 consumer surplus is $0 when price is greater than or equal to what price?

733_Figure 5P-1.jpg

Reference no: EM131916063

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