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If inverse market demand is given by P = 5-Q and inverse market supply is given by P = 3+Q where P is the market price and Q is the market quantity,
If inverse market demand is given by P = 5-Q and inverse market supply is given by P = 3+Q where P is the market price and Q is the market quantity, what is the total willingness to pay by consumers in this market?
a) 5
b) 3.5
c) 4
d) 4.5
e) 1