EduFarming
Your list · 0हिं

Type at least two letters. Press Esc to close.

↑↓ navigate↵ openTAB cycle filter

Consumer & Producer Surplus · Question 41 of 70

Question 41

EasyOriginal question

The demand function is p=30−xp = 30 - x and the market price is ₹18. What is the consumer surplus?

Options for question 41

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. The market clears at x0=12x_0 = 12, p0=18p_0 = 18.

  2. CS=∫012(30−x) dx−18×12=288−216=72CS = \int_0^{12} (30 - x)\,dx - 18 \times 12 = 288 - 216 = 72.

Worth noting

₹144 is 12×1212 \times 12, the rectangle, not the triangle under the demand line.

Concept
Consumer surplus for a straight-line demand
Typical time
60 s
Your time
—
The rule this testsConsumer surplus
Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapter →

Ten questions from Consumer & Producer Surplus, at your own pace.

Practise this chapterAll 70 questions in Consumer & Producer SurplusRevise the notes for Consumer & Producer Surplus