Question:
A consumer has a demand function for good X given by D(P)=100-P. Where P is the price of good X. If the price of good X is Rs.50, the value of consumer's surplus is
A consumer has a demand function for good X given by D(P)=100-P. Where P is the price of good X. If the price of good X is Rs.50, the value of consumer's surplus is
Updated On: Jul 27, 2024
- ₹ 1,250
- ₹ 3,750
- ₹ 2,250
- ₹ 3,050
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The Correct Option is A
Solution and Explanation
The correct answer is (A) : ₹ 1,250.
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