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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
Expensive Item
An object that is high in price or costs a significant amount of money, often implying it is of high quality or value.
Federal Hazardous Substances Act
A United States federal law that regulates the labeling and handling of hazardous substances to ensure consumer safety.
Warning Labels
Notices affixed to products providing information about potential risks or dangers associated with their use.
Dangerous Substances
Materials or chemicals that pose a risk to health, safety, property, or the environment due to their toxic, corrosive, flammable, or explosive nature.
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