What is the gain in consumer-s surplus for missioni fan


Missioni sweaters are greatly admired by their aficionados. The demand for these sweaters is given by Q = 13 - 0.02 P, where Q is the quantity of sweaters purchased per person per year, and P is the price of a sweater. These sweaters typically sell at the Missioni store for $500 per sweater. However, in a special promotion, Target decides to offer Missioni sweaters at a price of $50, while limiting purchases to 2 sweaters per person. What is the gain in consumer's surplus for a Missioni fan who can get these sweaters at Target instead of at the Missioni? Draw the appropriate diagram to illustrate this gain, and also do the numerical calculation.

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Microeconomics: What is the gain in consumer-s surplus for missioni fan
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