Solved: Calculate the change in alberts consumer surplus, Microeconomics

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Calculate the change in alberts consumer surplus

Problem

The formula for Albert's demand curve for music downloads is M = 150 - 60PM, where M is the number of downloads and PM is the price of a download. Suppose the price of a music download falls from $2 to $1. Using the method described, calculate the change in Albert's consumer surplus.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Calculate the change in alberts consumer surplus

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