Exercise 6.9: The formula for Albert's demand curve for music downloads is M = 150 - 60PM, where M i
Question: Exercise 6.9: The formula for Albert's demand curve for music downloads is M = 150 – 60PM, where M is the number of downloads and PM is the price of a download. Suppose the price of a music download falls from $2 to $1. Using the method described in Section 6.2*, calculate the change in Albert's consumer surplus.
* Find the area of the original consumer surplus, then the area of the new CS, and calculate the difference.
Price: $2.99
Answer: The solution file consists of 1 page
Type of Deliverable: Word Document
Type of Deliverable: Word Document
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