Question
A consumer has an annual demand curve for concentrated tomato paste given by: P =50 - 2Q (or Q =25-0.5P), where P is price in
A consumer has an annual demand curve for concentrated tomato paste given by: P =50 - 2Q (or Q =25-0.5P), where P is price in dollar and Q is tubes of tomato paste. If the per-unit price is $2/ tube of tomato paste, what is the maximum fixed fee a consumer would be willing to pay to consume the tomato paste at that price?
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
