Given that the market price of a product A is $8, there are 20 consumers who are each willing to pay $10 for a product, and 9 consumers who are willing to pa $6. How much did the product sell? What is the equilibrium price? What is consumer surplus?

Given that the market price of a product A is $8, there are 20 consumers who are each willing to pay $10 for a product, and 9 consumers who are willing to pa $6. How much did the product sell? What is the equilibrium price? What is consumer surplus?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section3.A: Consumer Surplus, Proudcer Suplus, And Market Efficency

Problem 2SQ

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Hand written plz asap i'll upvote

Given that the market price of a
product A is $8, there are 20
consumers who are each willing
to pay $10 for a product, and 9
consumers who are willing to pay
$6. How much did the product
sell? What is the equilibrium
price? What is consumer surplus?

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