Answer to Question #261229 in Microeconomics for Willis Ayamga Nsoh

Question

) Suppose the demand for a product is given by  where   is the quantity and  is the price in Ghana Cedis. Using calculus, estimate the effect of an increase in price from GH¢196.00 to GH¢250.00 on the welfare of the consumer

Answer 1

The demand for the product is not given. Kindly, provide the demand of the product.

Demand will always fall with increase in price.