The demand curve for productXis given by Q_X^d= 400 -2P_X.

a. Find the inverse demand curve.

Instruction:Enter all values as integers, or if needed, as a decimal.

P_X=

-Q_X^d

Instructions:Enter your responses to the nearest penny (two decimal places).

b. How much consumer surplus do consumers receive whenP_x= $40?

$

c. How much consumer surplus do consumers receive whenP_x= $30?

$

d. In general, what happens to the level of consumer surplus as the price of a good falls?

The level of consumer surplus

(Click to select)

doesn't change

increases

decreases

as the price of a good falls.