2. The demand for air travel is summarized in the equation Q D = 800 2P,...

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2. The demand for air travel is summarized in the equation Q D = 800 – 2P, where quantity is in millions of enplanements per quarter and price is in dollars per enplanement. How much would consumer surplus change if the rising cost of fuel led airlines to raise the price from $150 to $200?

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Microeconomics

ISBN: 9780716759751

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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