Answered: Given the demand function Pa 24 Q? and…

Given the demand function Pa 24 Q? and the supply function Ps = 3Q + 14. Assuming pure competition, what is the consumers' surplus? O a. 6.33 О b. 5.33 О с. 3.33 O d. 4.33

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 7PA

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Question

2020-2021 Bahar
Given the demand function P= 24 Q? and the supply function Ps = 3Q + 14. Assuming pure
competition, what is the consumers' surplus?
O a. 6.33
O b. 5.33
O c. 3.33
O d. 4.33
Sonraki sa

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