ECN437Area of a trapezoid

ECN437Area of a trapezoid - suppose the price of a good...

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ECN437 Area of a Trapezoid The area of a trapezoid that has two parallel bases of lengths B1 and B2  separated by distance H is given by the formula: area = (B1+B2)*H/2 For example, a trapezoid having parallel sides of lengths 6 and 8 and height  equal to 4 would have an area of (6+8)*4/2 = 28. As another example, 
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Unformatted text preview: suppose the price of a good increases from $10 to $15 and the quantity demanded falls from 80 to 60, as shown in the diagram below. Consumer surplus would decrease by the shaded area, which is equal to (60+80)*5/2 = $350....
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This note was uploaded on 04/05/2012 for the course ECN 437 taught by Professor Peterwilcoxen during the Spring '12 term at Syracuse.

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