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Author Question: Sandy's uncompensated demand for candy is given by the equation Q = 15/p, where Q is the quantity of ... (Read 70 times)

Awilson837

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on: Jul 1, 2018
Sandy's uncompensated demand for candy is given by the equation Q = 15/p, where Q is the quantity of candy and p is the price. When the price of candy rises from 1 to 3, the change in consumer surplus is
 
  A) 16.5.
  B) -20.
  C) -15.
  D) 15.

Question 2

Suppose the market supply curve is p = 5 + Q. If price increases from 10 to 15, the change in producer surplus is
 
  A) 12.5.
  B) 5.
  C) 50.
  D) 37.5.


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Briannahope

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Awilson837

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

ricroger

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Reply 3 on: Yesterday
:D TYSM

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