Find the consumer surplus at for the demand function .
Tap an option to check your answer.
4 marks, −1MicroeconomicsConsumer preferences and utilityConsumer surplus and reservation pricesModerateabout 1 min
CUET-PG 2018 Question 51: Consumer preferences and utility
Answer and worked solution
Checking your account…
Plain-text version
Find the consumer surplus at Q=5 for the demand function P=30-4Q. (A) 10 (B) 50 (C) 30 (D) 40
Consumer preferences and utility has come up 93 times in 7 exams since 2007.
What this question tests
This question is on Consumer surplus and reservation prices, part of Consumer preferences and utility in Microeconomics.
The gap between what a consumer is willing to pay and what is paid, measured from a demand curve.
TestStop has 10 past-paper questions on this subtopic.
Similar questions from other papers
- Which among the following is not an assumption of Indifference Curve?
- Madhu's utility function is given by U=max (2C,3F), where C represents the amount of cloth and F represents the amount of food. Her preferences DO NOT satisfy which one…
- Which of the following is NOT the assumption of the Revealed Preference Hypothesis?
- If the demand function is given as P = 110 - Q² and market equilibrium is attained at P₀ = 29 and Q₀ = 9, calculate the consumer surplus.
- A Constant Elasticity of Substitution (CES) utility function is given as: U_(CES)(z₁,z₂) = 1/δ(z₁^δ + z₂^δ) where z₁ and z₂ are two goods, and δ ≤ 1, δ ≠ 0. A…
Question from the CUET-PG 2018 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.