5. The demand curve for product X is given by 460 4Px. a. Find the...

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5. The demand curve for product X is given by  460  4Px.

a. Find the inverse demand curve.

b. How much consumer surplus do consumers receive when Px  $35?

c. How much consumer surplus do consumers receive when Px  $25?

d. In general, what happens to the level of consumer surplus as the price of a good falls?

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