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1.Suppose John's MWTP for wine is given by MWTPJ= 28 - 2QD, where QDrepresents bottles of wine demanded monthly. (a) What is John's demand function

1.Suppose John's MWTP for wine is given by MWTPJ= 28 - 2QD, where QDrepresents bottles of wine demanded monthly.

(a) What is John's demand function for wine?

(b) What is John's likely consumer surplus if the market price a bottle of wine is $10?

(Provide your answer, showing some work to suggest how you arrrived at it. It is ok if you type MWTPJ to representMWTPJor QD to represent QD. )

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