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QUESTION
Please provide an answer for the following The demand curve for product X is given by Q X d = 300 -2P X . Find the inverse demand curve. Instruction:...
Please provide an answer for the following
The demand curve for product X is given by QXd = 300 - 2PX.
a. Find the inverse demand curve.
Instruction:
PX = - QXd
b. How much consumer surplus do consumers receive when Px = $45?
c. How much consumer surplus do consumers receive when Px = $30?
