Assume a linear demand schedule.
This month, the price of a good you like to consume goes up by $15 and the quantity demanded by you goes down from 100 units to 70 units. What is the loss in your consumer surplus from the price increase?
A. none of the above
B. $1,275
C. $1,950
D. $525
E. $250
Get Answers For Free
Most questions answered within 1 hours.