In Problem 1, Sir Plus has a demand function for mead that is given by the equation D(p) = 100 - p. If the price of mead is $95, how much is Sir Plus's net consumer's surplus?
A) 25
B) 6.25
C) 5
D) 12.50
E) 9,500
Correct Answer:
Verified
Q2: Bernice in Problem 5 has the utility
Q3: In Problem 1, Sir Plus has a
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Q6: Bernice in Problem 5 has the utility
Q7: Ms. Quasimodo in Problem 3 has the
Q8: If Bernice (whose utility function is min{x,
Q9: Bernice in Problem 5 has the utility
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Q11: Bernice in Problem 5 has the utility
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