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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