uccess TipsBased on the information on the previous graph, you can tell thatconsumer surplus in this market will be $Success Tips1SIGN OUT1QSuppose the market price of a motor scooter increases to $100.ATptionFZOn 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 Manuel, green (triangle symbols) for Poornima, purple (diamondsymbols) for Shen, tan (dash symbols) for Valerie, and blue (circle symbols) for Antonio. (Note: If a person will not purchase a motor scooter at thenew market price, indicate this by leaving his or her rectangle in its original position on the palette.)?@2W160S4140120100XcommancommandBO604020#3Manuel160сEPoornimaDS4COShenFRFFValerie2685WMarket PriceAntonioG Search or type URLT♫G6stvBYYTHManuelPoornima77ShenValerieNTA☆LUJJwill buy motor scooters at the given market price, and total811M€9K<1HaltCOLcommand*PV➡;option111}A53(11dedeleteretre 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 thenew market price, indicate this by leaving his or her rectangle in its original position on the palette.)(?)TipsTipsUT2WS160PRICE (Dollars per motor scooter)140120-1008086040200#f3.0CManuelEPoornima2$$4ShenFRValerie45QUANTITY (Motor scooters)to26Based 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 amotor scooter▼and total consumer surplustoMarket PriceAntonio55W6G Search or type URLT76B8stvYYHHManuel77PoornimaShenValerieAntonioall 4N☆W**$8JJ+11O(KmusicHs.lt})CO*Poptionsearch this coⓇbongA+

Consumer surplus refers to the full benefit or value that consumers acquire from an amazing service…

Answered: Based on the information on the…

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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

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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