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

question 23

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) 112.50
• C) 56.25
• D) 225
• E) 7,650

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Definitions:

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