The demand curve for product X is given by Q(Quantity) d(demand) of x = 460 - 4P(Price) of x.
a. Find the inverse demand curve.
b. How much consumer surplus do consumers receive when P(PRice) of x = $35?
c. HOw much consumer surplus do consumers receive when P(Price) of x = $25?
d. In general, what happens to the level of consumer surplus as the price of a good falls?