Suppose there is a downward sloping demand curve that has a y-intercept of 70 and an upward sloping supply curve that has a y-intercept of 20. If the competitive equilibrium Price is 32 and Quantity is 52 what would be the size of the overall consumer surplus for this market? (Please answer to 2 decimal places as needed) Your Answer: 30 Answer

Suppose there is a downward sloping demand curve that has a y-intercept of 70 and an upward sloping supply curve that has a y-intercept of 20. If the competitive equilibrium Price is 32 and Quantity is 52 what would be the size of the overall consumer surplus for this market? (Please answer to 2 decimal places as needed) Your Answer: 30 Answer

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.7: Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?

Problem 2ST

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