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ECO 500- Graduate assignment

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Question;ECO 500- Graduate;I need help with parts B and C of the;problem below: I have worked this problem out and found that B is.32 or 320;the answer checker is telling me its wrong, despite having worked this problem;out just like the example. Please help.;The demand curve for product X is given by QXd;= 520 - 4PX.;a. Find the inverse demand curve.;PX = - QXdInstructions: Round your;answer to the nearest penny (2 decimal places).;b. How much consumer surplus do consumers receive when Px =;$50?;$;c. How much consumer surplus do consumers receive when Px =;$30?;$;-------------------------------- -;SAMPLE;Problem One: The demand curve for product X;is given by:.a. Find the inverse demand curve.;b.;How much consumer surplus do consumers receive when?;c.;How much consumer surplus do consumers receive when Px= $15?;Find the area of the triangle under the inverse demand curve and above the;price line of $15.;c. How much consumer surplus do consumers;receive when Px = $20?

 

Paper#55455 | Written in 18-Jul-2015

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