Question

Given the Demand function of a consumer D=10−2p, the consumer’s surplus at price=2
is please send full solution

Answer 1

Answer to Question #90970, Economics / Microeconomics

At Pmax, $Q=0$, $10-2p=0$

$P=5$

$Q(2) = 10 - 4 = 6$

Consumer surplus is the area bounded by Q (2), P=2, Pmax and the demand function

$$= \mathbf{1} / 2 * (5 - 2)(6) = \$9$$

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