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October 19th, 2015, 09:11 AM  #1 
Newbie Joined: Jan 2010 Posts: 9 Thanks: 0  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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