The demand curve for product X is given by Qxd = 300 − 2Px.                          a. Find the inverse demand curve. b. How much consumer surplus do consumers receive when Px = $45? c. How much consumer surplus do consumers receive when Px= $30? d. In general, what happens to the level of consumer surplus as the price of a good falls?

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Chapter7: Market Efficiency And Welfare
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The demand curve for product X is given by Qxd = 300 − 2Px.                          a. Find the inverse demand curve. b. How much consumer surplus do consumers receive when Px = $45? c. How much consumer surplus do consumers receive when Px= $30? d. In general, what happens to the level of consumer surplus as the price of a good falls?

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