Consumer surplus is indicated by this demand function/Business Economics
You have 100 identical customers, each with relevant demand function Q = 20-P (where Q is the hours per week and P is the per hour fee). How much consumer surplus (per customer) is indicated by this demand function?
If you priced weekly membership consistent with the consumer surplus generated above, fixed costs=$1,000, and variable costs = $0, how much total profit per week?
