The Market Price of a Good Is $10 and 40

question 179

Multiple Choice

The market price of a good is $10 and 40 units of the good sell at this price. Its demand curve intersects the vertical axis at a price of $12 and has a constant slope. What is the approximate value of consumer surplus in this market?

• A) $20
• B) $30
• C) $40
• D) $50

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