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In Problem 1, Sir Plus Has a Demand Function for Mead

Question 3

Multiple Choice

In Problem 1, Sir Plus has a demand function for mead that is given by the equation D(p) = 100 - p. If the price of mead is $85, how much is Sir Plus's net consumer's surplus?


A) 15
B) 225
C) 56.25
D) 112.50
E) 7,650

Correct Answer:

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