Answer to Question #305374 in Microeconomics for Ria

Question #305374

Suppose the market for watermelon can be described as the graph below . If Jon is willing to pay 8 dollars

Expert's answer

Consumer surplus= $\frac{1}{2}\times Q \times (P_2-P_2)$

$\frac{1}{2}\times 6\times (8-5)$ = 9

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