HW_ch5 - ible units when the price is $145. (c) What...

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Homework Question for Chapter 5 1. Given the demand curve Q D = 300 - 2 P answer the following questions. (a) Calculate the consumer surplus if the product can only be sold in whole units when the price is $145. (b) Calculate the consumer surplus if the product can only be sold in infinitely divis-
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Unformatted text preview: ible units when the price is $145. (c) What happens to (a) and (b) if there is a decrease in demand? Explain. (d) The demand for this market drops in half at each price i. Recalculate (a) under the new demand curve. ii. Recalculate (b) under the new demand curve....
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