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for parts c and d how do you calculate total consumer's surplus and gross consumer's surplus? Table 1: Individual Reservation Prices for Apartments Person ABCDEFGH

for parts c and d how do you calculate total consumer's surplus and gross consumer's surplus?

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Table 1: Individual Reservation Prices for Apartments Person ABCDEFGH Price 55 48 45 40 20 25 40 10 c) If the equilibrium rent for an apartment turns out to be $35, what is the total consumers' surplus generated in the market? d) If the equilibrium rent for an apartment turns out to be $35, what is the gross consumers' surplus in the market? e) If the rent declines to $25, how much does the gross surplus increase? () If the rent declines to $25, how much does the (net) consumer surplus increase? 2 Equilibrium 3. The demand for nickles is given he n = 84 - An and the sunnly is given hy ne 7 4 2. Homework 9 pol.pdf

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