Answer:
d. 20
Missing Information:
[tex]Qd = 15 - \frac{5}{2} P[/tex]
Explanation:
TO sovle for the consumer surplus we need to get the equilibrium price and quantity.
If P = 2 then:
Qd = 15 - (5 / 2) x 2 = 15 - 5 = 10
Now we need to knwo how much is the price that makes Lucy do not consume:
We solve for Qd = 0
0 = 15 - (5/2) x P
p = 15 / (5/2) = 6
Now we calculate the area of the consumer surplus which is the area of the demand curve above the equilibrium price.
10 x (6-2) / 2 = 10 x 4 / 2 = 20
