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Homework answers / question archive / Consider the following market for flash drives
Consider the following market for flash drives.
| Price ($) | Quantity supplied | Quantity demanded |
|---|---|---|
| 65 | 3,000 | 0 |
| 60 | 2,750 | 250 |
| 55 | 2,500 | 500 |
| 50 | 2,250 | 750 |
| 45 | 2,000 | 1,000 |
| 40 | 1,750 | 1,250 |
| 35 | 1,500 | 1,500 |
| 30 | 1,250 | 1,750 |
| 25 | 1,000 | 2,000 |
| 20 | 750 | 2,250 |
| 15 | 500 | 2,500 |
| 10 | 250 | 2,750 |
| 5 | 0 | 3,000 |
| 0 | 0 | 3,250 |
1. What is the consumer surplus in the equilibrium?
2. Suppose there is an increase in the cost of producing flash drives such that the quantity supplied decreases by 1,000 units for each price. What is the consumer surplus at the new equilibrium?
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