Use the market represented in to draw the consumer surplus


Problem

1. Use the market represented in to draw the consumer surplus when the market price is $8. What is the value of consumer surplus at this price?

2. Based on Figure 5P-1 consumer surplus is $0 when price is greater than or equal to what price?

733_Figure 5P-1.jpg

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Microeconomics: Use the market represented in to draw the consumer surplus
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