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QUESTION 18 A consumer has an annual demand curve for concentrated tomato paste given by: P =50 - 2Q (or Q =25-0.5P), where P is
QUESTION 18
- 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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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
