If the inverse demand function for toasters isp= 120 - 2q,what is the consumer surplus if the price is 40?Consumer surplus (CS) is $. (Enter your response as an integer.)Reaction27étvMacBook Air80DIIDDF1F2F3F4F5F6F7F8F9F10F11!@#3$&12478Q{[WEYUASFGJKZCVMotioncommarcommandoptionレV

Demand equation: - demand equation is the mathematical equation that shows the relationship between…

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If the inverse demand function for toasters is p= 120 - 24, what is the consumer surplus if the price is 40? Consumer surplus (CS) is $ (Enter your response as an integer.)

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.2: Application 2: Subsidizing The Consumption Of Anything Can Raise Its Price

Problem 1ST

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If the inverse demand function for toasters is
p= 120 - 2q,
what is the consumer surplus if the price is 40?
Consumer surplus (CS) is $. (Enter your response as an integer.)
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