Answer
The consumer surplus is the area under the demand curve and above the market price, shaded in blue.
consumer surplus = 0.5*3*(3-1.50) .... Area of triagle formula
=$2.25
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please help and explain.. Figure 4-1 Price (dollars per burrito) $8.00 250 200 1.50 1.00 Demand...
Refer to Figure 4-1. Arnold's marginal benefit from consuming the third burrito is Figure 4-1 Figure 4-1 shows Arnold's demand curve for burritos. Question 4 options: A) $1.25. B) $1.50. C) $2.50. D) $6.00.
Figure 4-5 Price (dollars per month $2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1.000 per month. 2) 2) Refer to Figure 4-5. Suppose that instead of a rent ceiling, the government imposed a price floor of 12,000 per month for apartments. What is the quantity of apartments demanded at the new price? B) 200 C) 300 D) 500 A) 3) Refer to...
Figure 1 Price (dollars per month) $2.300 Supply 2.000 Demand 200 300 500 Quantity (apartments) Refer to Figure 1. What is the value of consumer surplus at the market equilibrium price? OA) $0 OB) $120,000 OC) $175,000 OD) $135,000
7. Consumer surplus for an individual and a market The following graph shows Becky's weekly demand for pizza, represented by the blue line. Point A represents point along her weekly demand. The market price of pizza is $3.00 per slice, as shown by the horizontal black line. Becky's Weekly Demand 7.50 6.75 6.00 Demand 5.25 4,50 3.75 Price 3.00 2,25 1.50 0.75 0 0 10 12 14 16 18 20 4 QUANTITY (Slices of pizza) From the previous graph, you...
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Consumer surplus for an individual and a
market
The following graph shows Cho's weekly demand for cheesecake,
represented by the blue line. Point A represents a point along her
weekly demand curve. The market price of cheesecake is $3.00 per
slice, as shown by the horizontal black line.
Cho's Weekly Demand 7.50 6.75 6.00 5.25 4.50 3.75 Price 3.00 2.25 1.50 0.75 0 28 10 12 41 18 20 QUANTITY (Slices of cheesecake) From the previous graph, you can tell...
4. Consumer surplus for an individual and a market The following graph shows Sam's weekly demand for apple pie, represented by the blue line. Point A represents a point along his weekly demand curve. The market price of apple pie is $3.00 per slice, as shown by the horizontal black line. Sam's Weekly Demand 7.50 6.75 6.00 3.75 Price 3.00 a 2.25 1.50 0.75 2 4 0 2 14 18 20 QUANTITY (Slices of apple pie)
Price of almonds P (dollars per ton) Price floor Quantity of almonds (tons) Figure 4-6 shows the demand and supply curves for the almond market. The government believes that the equilibrium pr is too low and tries to help almond growers by setting a price floor at PT 5) 5) Refer to Figure 4-6. What area represents the portion of consumer surplus that has been transferred to producer surplus as a result of the price floor? А) в B) B+E...
Price und cose (dollars per unc) 50.00 40.00 30.00 20.00 10.00 MR 0 00 200 00 00 00 Quantty (units per hour) The figure above shows the demand curve, marginal revenue curve, and marginal cost curve. The amount of consumer surplus when the market has a monopoly producer is and the amount of consumer surplus when the market is perfectly competitive is A. ace; abf B. abf, ace OC. abf, bed D. ace; bed E. bcd ace
The graph shows the demand curve for DVDs. Price (dollars per DVD) Suppose the price of a DVD is $30. Draw an arrow that shows the consumer surplus on the 1 millionth DVD bought. Consumer surplus is Market price O A. equal to the amount that we pay for a good or service O B. measured as the marginal benefit (or value) of a good minus the price paid for it, summed over the quantity bought OC. the value that...