Multiple Choice
The market demand function for ice cream is Qd = 10- 2P and the market supply function for ice cream is Qs = 4P-2 , where both quantities are measured in millions of gallons per year. What is the consumer surplus at the competitive market equilibrium?
A) $4.2
B) $6
C) $4.5
D) $3
Correct Answer:
Verified
Correct Answer:
Verified
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