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Consider the following equation: P = 100 - 2Q.Answer the following questions.
a.What is the consumer surplus when price is equal to $60
b.What is the change of the consumer surplus when price changes to $40
Customer Needs
The desires, requirements, or necessities that a customer expresses, which a product or service aims to fulfill.
Deprivation
A state of lacking or doing without something considered to be a necessity, often associated with poverty or lack of access to basic resources.
Marketplace
A physical or virtual venue where buyers and sellers come together to exchange goods and services.
Loyalty Program
A marketing strategy that rewards, and therefore encourages, loyal buying behavior, which is beneficial to the business.
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