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I have the demand Q(p)=1-p, I need to find the consumer surplus at price p, CS(p). In the answers, it is given that CS(p)=1/2(1-p)^2, and
I have the demand Q(p)=1-p, I need to find the consumer surplus at price p, CS(p). In the answers, it is given that CS(p)=1/2(1-p)^2, and I do not understand where this is coming from. Could you please explain in detail how this formula for CS is derived
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Auditing and Assurance Services
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
6th edition
978-1259197109, 77632281, 77862341, 1259197107, 9780077632281, 978-0077862343
