5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each sandwich he eats: Value of first sandwich Value of second sandwich Value of third sandwich Value of fourth sandwich Value of fifth sandwich Value of sixth sandwich a. Use this information to construct Nassir's demand curve for sandwiches 0.600KD 0.500KD 0.400KD 0.300KD 0.200KD 0.100KD b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy? C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at a price of 0.200KD? d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now? What would happen to Nassir's consumer surplus? Show this change on your graph
5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each sandwich he eats: Value of first sandwich Value of second sandwich Value of third sandwich Value of fourth sandwich Value of fifth sandwich Value of sixth sandwich a. Use this information to construct Nassir's demand curve for sandwiches 0.600KD 0.500KD 0.400KD 0.300KD 0.200KD 0.100KD b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy? C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at a price of 0.200KD? d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now? What would happen to Nassir's consumer surplus? Show this change on your graph
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
No written by hand solution
![5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each
sandwich he eats:
Value of first sandwich
Value of second sandwich
Value of third sandwich
Value of fourth sandwich
Value of fifth sandwich
Value of sixth sandwich
a.
0.600KD
0.500KD
0.400KD
0.300KD
0.200KD
0.100KD
Use this information to construct Nassir's demand curve for sandwiches.
b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy?
C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at
a price of 0.200KD?
d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now?
What would happen to Nassir's consumer surplus? Show this change on your
graph.
39-
*+
#
14
42
#
W
ver
19 20 30 5
Supply
Demand
6. Answer the following questions based on the graph above. At the equilibrium:
a. What is the equilibrium price and quantity?
b. What is the consumer surplus?
e. What is the producer surplus?
d. What is the social or total surplus?
e. What the cost of production?
f. What is the total willingness to pay (TWTP)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fe9af21-d25b-4540-a3cc-0ad469a8dc5b%2Ffd6e7084-cc14-4dd6-93d8-e13382d11966%2Fx3da52bj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5. Nassir loves shawarma sandwiches. The table shown reflects the value Nassir places on each
sandwich he eats:
Value of first sandwich
Value of second sandwich
Value of third sandwich
Value of fourth sandwich
Value of fifth sandwich
Value of sixth sandwich
a.
0.600KD
0.500KD
0.400KD
0.300KD
0.200KD
0.100KD
Use this information to construct Nassir's demand curve for sandwiches.
b. If the price of sandwich is 0.200KD, how many sandwiches will Nassir buy?
C. Show Nassir's consumer surplus on your graph. How much consumer surplus would he have at
a price of 0.200KD?
d. If the price of sandwich rose to 0.400KD, how many sandwiches would he purchase now?
What would happen to Nassir's consumer surplus? Show this change on your
graph.
39-
*+
#
14
42
#
W
ver
19 20 30 5
Supply
Demand
6. Answer the following questions based on the graph above. At the equilibrium:
a. What is the equilibrium price and quantity?
b. What is the consumer surplus?
e. What is the producer surplus?
d. What is the social or total surplus?
e. What the cost of production?
f. What is the total willingness to pay (TWTP)?
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