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Question: Suppose the maximum willingness to pay for a new iPhone by the different consumers in a market is given in the table below
Consumer Maximum willingness to pay
#1 $550
#2 $530
#3 $490
#4 $440
#5 $420
#6 $370
#7 $350
#8 $310
a. If the price of iPhones is $420, how many iPhones will be sold?
b. What is the total consumer surplus in the market?
c. Suppose the price of iPhones decreases to $390. Now how many iPhones will be sold? What is the new consumer surplus?
Do you think some students are better at formulas and others are better at understanding in why formulas work? What do you do to aid students who cant remember formulas?
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Use residues to evaluate the improper integral from 0 to infinity: Use Jordan's Inequality to evaluate the improper integral from -infinity to infinity:
a) If m, n, p, q, r, and s are known constants, can we find a solution? b) Under what condition is the solution unique? Explain clearly by utilizing an equation.
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