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October 19th, 2015, 09:11 AM   #1
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consumer surplus

Assume the demand function for basketballs is given by
QD = 150 - 3P + .001I,
where P = price of a basketball and
I = average income of consumers.

a) If the income is 30000 I want o find when the quantity is 0
and
b) For the price 20, I want to find the consumer surplus

Could you help me please ?

My solution for a) is :

QD = 150 - 3P + 30 = 0 ==>
180=3P ==>
P = 180/3 ==> P=60

I know that I have to make one triangle but I don;t understand exactly
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