Question
Economics Question on Consumer behaviour
A consumer has a demand function for good X given by D(P)=100-P. Where P is the price of good X. If the price of good X is Rs.50, the value of consumer's surplus is
A
₹ 1,250
B
₹ 3,750
C
₹ 2,250
D
₹ 3,050
Answer
₹ 1,250
Explanation
Solution
The correct answer is (A) : ₹ 1,250.