Albin has quasilinear preferences and he loves pretzels. His inverse demand function for pretzels is

Albin has quasilinear preferences and he loves pretzels. His inverse demand function for pretzels is p(x)= 49-6x, where x is the number of pretzels that he consumes. He is currently consuming 8 pretzels at a price of $1 per pretzel. If the price of pretzels rises to $7 per pretzel, the change in Albin’s consumer surplus is?The correct answer is $45.If you could show me how to work out the problem I would appreciate it.

"Is this question part of your assignment? We can help"

ORDER NOW