The demand curve for productXis given by QXd= 320 – 4PX.a. Find the inverse demand curve.PX=-QXdInstructions:Round your answer to the nearest penny (2 decimal places).b. How much consumer surplus do consumers receive whenPx= $35?$c. How much consumer surplus do consumers receive whenPx= $20?$d. In general, what happens to the level of consumer surplus as the price of a good falls?The level of consumer surplus(Click to select)doesn’t changedecreasesincreasesas the price of a good falls.
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