Demand curve is P=-Q+90 and the supply curve is P=0.5Q

1- find equilibrium price and quantity

2- whats the level of total expenditure in the market?

3- whats the price elasticity of demand at the equilibrium?

4- calculate consumer surplus

5- if there's a law to prevent you from consuming this good, how much should you be compensated by the government to accept it?

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Sixta KovacekLv2

27 Nov 2018

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