Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ will buy motor scooters at the given market price, and total
Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ will buy motor scooters at the given market price, and total
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![uccess Tips
Based on the information on the previous graph, you can tell that
consumer surplus in this market will be $
Success Tips
1
SIGN OUT
1
Q
Suppose the market price of a motor scooter increases to $100.
A
T
ption
F
Z
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 Manuel, green (triangle symbols) for Poornima, purple (diamond
symbols) for Shen, tan (dash symbols) for Valerie, and blue (circle symbols) for Antonio. (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.)
?
@
2
W
160
S
4
140
120
100
X
comman
command
BO
60
40
20
#
3
Manuel
160
с
E
Poornima
D
S
4
CO
Shen
FR
FF
Valerie
26
8
5
W
Market Price
Antonio
G Search or type URL
T
♫
G
6
stv
B
YY
TH
Manuel
Poornima
77
Shen
Valerie
N
TA
☆
LU
JJ
will buy motor scooters at the given market price, and total
8
11
M
€9
K
<
1
H
alt
CO
L
command
*
P
V
➡
;
option
11
1
}
A
53
(11
dedelete
retre](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc45da339-0b32-4d12-9a44-8472b0b3a073%2F41a7b999-3c6c-4d8a-bfa3-dbd834e1cd07%2Fve66oac_processed.jpeg&w=3840&q=75)
Transcribed Image Text:uccess Tips
Based on the information on the previous graph, you can tell that
consumer surplus in this market will be $
Success Tips
1
SIGN OUT
1
Q
Suppose the market price of a motor scooter increases to $100.
A
T
ption
F
Z
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 Manuel, green (triangle symbols) for Poornima, purple (diamond
symbols) for Shen, tan (dash symbols) for Valerie, and blue (circle symbols) for Antonio. (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.)
?
@
2
W
160
S
4
140
120
100
X
comman
command
BO
60
40
20
#
3
Manuel
160
с
E
Poornima
D
S
4
CO
Shen
FR
FF
Valerie
26
8
5
W
Market Price
Antonio
G Search or type URL
T
♫
G
6
stv
B
YY
TH
Manuel
Poornima
77
Shen
Valerie
N
TA
☆
LU
JJ
will buy motor scooters at the given market price, and total
8
11
M
€9
K
<
1
H
alt
CO
L
command
*
P
V
➡
;
option
11
1
}
A
53
(11
dedelete
retre
![Homework (Ch 07)
symbois) for Snen, tan (aasn symbois) ror valerie, and Diue (circie symbois) Tor Antonio. (Note: ir 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.)
(?)
Tips
Tips
UT
2
W
S
160
PRICE (Dollars per motor scooter)
140
120-
100
80
860
40
20
0
#f
3
.
0
C
Manuel
E
Poornima
2
$$
4
Shen
FR
Valerie
4
5
QUANTITY (Motor scooters)
to
26
Based on the information in the second graph, when the market price of a motor scooter increases to $100, the number of consumers willing to buy a
motor scooter
▼
and total consumer surplus
to
Market Price
Antonio
55
W
6
G Search or type URL
T
7
6
B
8
stv
YY
HH
Manuel
77
Poornima
Shen
Valerie
Antonio
all 4
N
☆
W
**
$8
JJ
+
11
O
(
K
music
H
s.lt
})
CO
*
P
option
search this co
Ⓡ
bong
A+](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc45da339-0b32-4d12-9a44-8472b0b3a073%2F41a7b999-3c6c-4d8a-bfa3-dbd834e1cd07%2Fy8md3y_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Homework (Ch 07)
symbois) for Snen, tan (aasn symbois) ror valerie, and Diue (circie symbois) Tor Antonio. (Note: ir a person will not purchase a motor scooter at the
new market price, indicate this by leaving his or her rectangle in its original position on the palette.)
(?)
Tips
Tips
UT
2
W
S
160
PRICE (Dollars per motor scooter)
140
120-
100
80
860
40
20
0
#f
3
.
0
C
Manuel
E
Poornima
2
$$
4
Shen
FR
Valerie
4
5
QUANTITY (Motor scooters)
to
26
Based on the information in the second graph, when the market price of a motor scooter increases to $100, the number of consumers willing to buy a
motor scooter
▼
and total consumer surplus
to
Market Price
Antonio
55
W
6
G Search or type URL
T
7
6
B
8
stv
YY
HH
Manuel
77
Poornima
Shen
Valerie
Antonio
all 4
N
☆
W
**
$8
JJ
+
11
O
(
K
music
H
s.lt
})
CO
*
P
option
search this co
Ⓡ
bong
A+
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