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    What is the inverse demand function and consumer surplus?

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    The demand curve for product X is given by Qdx = 460 - Px
    a) Find the inverse demand curve?
    b) How much consumer surplus do consumers receive when Px = $35?
    c) How much consumer surplus do consumers receive when Px = $25?
    d) In general, what happens to the level of consumer surplus as the price of goods falls?

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    https://brainmass.com/economics/demand-supply/inverse-demand-function-consumer-surplus-229433

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    Solution:

    The demand curve for product X is given by Qdx = 460 - Px

    a) Find the inverse demand curve?
    Qdx=460-Px

    Adding Px both sides, we get
    Qdx+Px=460

    Adding -Qdx both sides, we get
    Px=460-Qdx

    Inverse demand curve ...

    Solution Summary

    This solution describes the steps for detemining inverse demand function and consumer surplus.

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