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Albin’s inverse demand function for pretzels is p( q) = 49 – 6 q, where q is the number of pretzels that he consumes. Currently, the price is $1 per pretzel. If the price of pretzels rises to $7 per pretzel, the change in Albin’s consumer surplus is   a.  –$56.   b.  –$42.   c.  –$45.   d.  –$90.   e.  –$42.

Albin’s inverse demand function for pretzels is p( q) = 49 – 6 q, where q is the number of pretzels that he consumes. Currently, the price is $1 per pretzel. If the price of pretzels rises to $7 per pretzel, the change in Albin’s consumer surplus is   a.  –$56.   b.  –$42.   c.  –$45.   d.  –$90.   e.  –$42.

Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 15PAE
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Albin’s inverse demand function for pretzels is p( q) = 49 – 6 q, where q is the number of pretzels that he consumes. Currently, the price is $1 per pretzel. If the price of pretzels rises to $7 per pretzel, the change in Albin’s consumer surplus is

 

a. 

–$56.

 

b. 

–$42.

 

c. 

–$45.

 

d. 

–$90.

 

e. 

–$42.

 

 

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