2. The quantity of DVDs bought is 20 a day. The consumer surplus from DVDs is (the...

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2. The quantity of DVDs bought is 20 a day. The consumer surplus from DVDs is (the area of the green triangle in Figure 2 ). The amount spent on DVDs is the price multiplied by the quantity bought, which equals (the area of the blue rectangle in Figure 2 ). The total benefit from DVDs is the amount spent on DVDs plus the consumer surplus from DVDs, which equals

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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