Sir Plus Has a Demand Function for Mead That Is

question 4

Multiple Choice

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

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Definitions:

Beaconing

The practice of using Bluetooth Low Energy (BLE) devices to send targeted messages and information to nearby smartphones.

Geofencing

A location-based technology that uses GPS or RFID to create a virtual boundary, enabling software to trigger a response when a mobile device enters or leaves a particular area.

Behavioral Segmentation

The process of dividing a market into groups based on consumer behaviors, such as purchasing habits or usage rates.

Demographic Segmentation

The division of a market into segments based on demographic factors such as age, gender, income, education, and family size.