Question

Homework (Ch 07) 3. Consumer surplus for a group of consumers The following graph shows the demand curve for a group of consumers in the U.S. market (blue line) for tablets. The market price of a tablet is shown by the black horizontal line at $150. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Carlos, green (triangle symbols) for Deborah, purple (diamond symbols) for Felix, tan (dash symbols) for Janet, and blue (circle symbols) for Larry. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $150. (Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) Carlos Carlos Deborah Deborah PRICE (Dollars per tablet) Market Price Felix Janet Janet

Answer 1

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