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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