Answer to Question #138982 in Economics for Aurelia

Question

If the demand function for rice is as follows

Qd = -200P + 5000

Find the consumer surplus when the price is fixed at

a) GHc 15

b) GHc 10

Answer 1

$$Q_1=-200\times15+5000=2000$$

$$Q_2=-200 \times 10+5000=3000$$