The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine price in dollars per issue and Q is the weekly magazine circulation in units of 10,000. If the circulation is 400,000 per week at the current price, what is the consumer surplus for a teen reader with maximum willingness to pay of $3 per issue?A) $2.00B) $1.00C) ZeroD) -$1.00
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The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine...
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