If the demand function is given as and market equilibrium is attained at and , calculate the consumer surplus.
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4 marks, −1MicroeconomicsConsumer preferences and utilityConsumer surplus and reservation pricesModerateabout 2 min
CUET-PG 2025 Question 1: Consumer preferences and utility
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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) 460 (B) 456 (C) 466 (D) 486
Also written as: If the demand function is given as P = 110 - Q^2 and market equilibrium is attained at P_0 = 29 and Q_0 = 9, calculate the consumer surplus.
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.
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