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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 408 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Consider the demand for broadband Internet service, given as follows: QD = 224 – 4P, where Q is the number of subscribers in a given area (in hundreds) and P is the price in dollars per month. This demand relationship is illustrated in the diagram on the right. Assume that the price of broadband service is $25 per month. Determine the following, paying particular attention to the units in which quantity is denominated:
a. The total number of subscribers at that price
b. The total amount paid by subscribers for broadband service, area B
c. The consumer surplus received by subscribers, area A
d. The total value to consumers of the broadband service they received, areas A and B

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