3. Consumer surplus for a group of consumersThe following graph plots the demand curve (blue line) for several consumers in the market for motor scooters in Meade, a small town located inKansas. The Meade market price of a motor scooter is given by the horizontal black line at $80.Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Dmitri, green(triangle symbols) for Frances, purple (diamond symbols) for Jake, tan (dash symbols) for Latasha, and blue (circle symbols) for Nick. Use therectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a motor scooter at a market price of$80. (Note: If a person will not purchase a motor scooter at the market price, indicate this by leaving his or her rectangle in its original position onthe palette.)PRICE (Dollars per motor scooter)160140120DmitriFrancesJake10080604020DmitriFrancesMarket PriceLatashaJakeNickLatasha00123456ВNickQUANTITY (Motor scooters)Based on the information on the previous graph, you can tell thatconsumer surplus in this market will be SSuppose the market price of a motor scooter decreases to $40.will buy motor scooters at the given market price, and totalOn the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able topurchase a motor scooter at the new market price: orange (square symbols) for Dmitri, green (triangle symbols) for Frances, purple (diamondsymbols) for Jake, tan (dash symbols) for Latasha, and blue (circle symbols) for Nick. (Note: If a person will not purchase a motor scooter at the newmarket price, indicate this by leaving his or her rectangle in its original position on the palette.)160Dmitri140120FrancesJake100во20LatashaNickDmitriFrancesJakeMarket PriceLatashaD0123456BNickQUANTITY (Motor scooters)Based on the information in the second graph, when the market price of a motor scooter decreases to $40, the number of consumers willing to buy amotor scooter, and total consumer surplustoto

The consumer surplus represents the additional benefits received by the consumers at the market…

3. Consumer surplus for a group of consumers The following graph plots the demand curve (blue line) for several consumers in the market for motor scooters In Meade, a small town located in Kansas. The Meade market price of a motor scooter is given by the horizontal black line at $80. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Dmitri, green (triangle symbols) for Frances, purple (diamond symbols) for Jake, tan (dash symbols) for Latasha, and blue (circle symbols) for Nick. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a motor scooter at a market price of $80. (Note: If a person will not purchase a motor scooter at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 160 Dmitri 140 120 100 80 60 40 20 Frances Jake Dmitri Frances Market Price Latasha Jake Nick Latasha 0 0 1 2 3 QUANTITY (Motor scooters) S 9 7 Nick Based on the information on the previous graph, you can tell that consumer surplus in this market will be S Suppose the market price of a motor scooter decreases to $40. will buy motor scooters at the given market price, and total On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to purchase a motor scooter at the new market price: orange (square symbols) for Dmitri, green (triangle symbols) for Frances, purple (diamond symbols) for Jake, tan (dash symbols) for Latasha, and blue (circle symbols) for Nick. (Note: If a person will not purchase a motor scooter at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) PRICE (Dollars per mo 190 Dmitri 140 120 Frances Jake 100 BO 60 40 20 Dmitri Frances Latasha Jake Market Price Latasha Nick 0 0 1 2 7 Nick QUANTITY (Motor scooters) Based on the information in the second graph, when the market price of a motor scooter decreases to $40, the number of consumers willing to buy a motor scooter to , and total consumer surplus to