For the demand function given by , where q is quantity and p is the price. Find the consumer surplus at p = 2.
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0 marksMicroeconomicsConsumer preferences and utilityConsumer surplus and reservation pricesModerateabout 2 min
JNU SIS 2020 Question 15: Consumer preferences and utility
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For the demand function given by q = 30/p², where q is quantity and p is the price. Find the consumer surplus at p = 2. (A) 15 (B) 10 (C) 30 (D) None of the above
Also written as: For the demand function given by q = 30/p^2, where q is quantity and p is the price. Find the consumer surplus at p = 2.
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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