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Suppose demand is given by QD = 6 P. 1. Graph the demand curve. 2. If the price were $2, what is consumer surplus? 3.

Suppose demand is given by QD = 6 P.

1. Graph the demand curve. 2. If the price were $2, what is consumer surplus? 3. If the price goes up to $4, what is the new consumer surplus? This new surplus should be lower; explain why.

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