CENGAGE MINDTAP Aplia Homework: Chapter 7 PRICE (Dollars per slice) 7.50 6.75 6.00 5.25 4.50 3.75 The following graph shows Amy's weekly demand for cheesecake, represented by the blue line. Point A represents a point along her weekly demand curve. The market price of cheesecake is $3.00 per slice, as shown by the horizontal black line. 3.00 < > 2.25 1.50 0.75 Cengage Learning Demand Price BO Amy's Weekly Demand 30 26 A O 0 280 Help NOV OOO ng.cengage.com Mind Tap Cengage Learning ? tv C ♫ NA Q Search this course ? D a g W (1) WhatsApp Wed Nov DOCX Am Safari File Edit View History Bookmarks Window CENGAGE MINDTAP PRICE (Dol Aplia Homework: Chapter 7 3.00 2.25 1.50 < > 0.75 0 Cengage Learning Price 0 2 4 6 10 12 14 QUANTITY (Slices of cheesecake) 8 16 18 20 26 Help From the previous graph, you can tell that Amy is willing to pay $ $3.00 per slice, the consumer surplus she gains from the 8th slice of cheesecake is $ 280 Suppose the price of cheesecake were to fall to $2.25 per slice. At this lower price, Amy would receive a consumer surplus of $ slice of cheesecake she buys. The following graph shows the weekly market demand for cheesecake in a small economy. ng.cengage.com Mind Tap - Cengage Learning for her 8th slice of cheesecake each week. Because she has to pay only NOV 8 Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of cheesecake is $3.00 per slice. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $2.25 per slice. BO ♫ NA Q Search this course tv from the 8th (1) WhatsApp W Wed Nov 8 4:32 PM + + Amandeep ✓ 0 X DOCK A-Z bon
CENGAGE MINDTAP Aplia Homework: Chapter 7 PRICE (Dollars per slice) 7.50 6.75 6.00 5.25 4.50 3.75 The following graph shows Amy's weekly demand for cheesecake, represented by the blue line. Point A represents a point along her weekly demand curve. The market price of cheesecake is $3.00 per slice, as shown by the horizontal black line. 3.00 < > 2.25 1.50 0.75 Cengage Learning Demand Price BO Amy's Weekly Demand 30 26 A O 0 280 Help NOV OOO ng.cengage.com Mind Tap Cengage Learning ? tv C ♫ NA Q Search this course ? D a g W (1) WhatsApp Wed Nov DOCX Am Safari File Edit View History Bookmarks Window CENGAGE MINDTAP PRICE (Dol Aplia Homework: Chapter 7 3.00 2.25 1.50 < > 0.75 0 Cengage Learning Price 0 2 4 6 10 12 14 QUANTITY (Slices of cheesecake) 8 16 18 20 26 Help From the previous graph, you can tell that Amy is willing to pay $ $3.00 per slice, the consumer surplus she gains from the 8th slice of cheesecake is $ 280 Suppose the price of cheesecake were to fall to $2.25 per slice. At this lower price, Amy would receive a consumer surplus of $ slice of cheesecake she buys. The following graph shows the weekly market demand for cheesecake in a small economy. ng.cengage.com Mind Tap - Cengage Learning for her 8th slice of cheesecake each week. Because she has to pay only NOV 8 Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of cheesecake is $3.00 per slice. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $2.25 per slice. BO ♫ NA Q Search this course tv from the 8th (1) WhatsApp W Wed Nov 8 4:32 PM + + Amandeep ✓ 0 X DOCK A-Z bon
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:CENGAGE MINDTAP
Aplia Homework: Chapter 7
PRICE (Dollars per slice)
7.50
6.75
6.00
5.25
4.50
3.75
The following graph shows Amy's weekly demand for cheesecake, represented by the blue line. Point A represents a point along her weekly demand
curve. The market price of cheesecake is $3.00 per slice, as shown by the horizontal black line.
3.00
< >
2.25
1.50
0.75
Cengage Learning
Demand
Price
BO
Amy's Weekly Demand
30
26
A
O
0
280
Help
NOV
OOO
ng.cengage.com
Mind Tap Cengage Learning
?
tv
C
♫
NA
Q Search this course ?
D
a g
W
(1) WhatsApp
Wed Nov
DOCX
Am
Transcribed Image Text:Safari File Edit View History Bookmarks Window
CENGAGE MINDTAP
PRICE (Dol
Aplia Homework: Chapter 7
3.00
2.25
1.50
< >
0.75
0
Cengage Learning
Price
0 2
4
6
10 12 14
QUANTITY (Slices of cheesecake)
8
16 18
20
26
Help
From the previous graph, you can tell that Amy is willing to pay $
$3.00 per slice, the consumer surplus she gains from the 8th slice of cheesecake is $
280
Suppose the price of cheesecake were to fall to $2.25 per slice. At this lower price, Amy would receive a consumer surplus of $
slice of cheesecake she buys.
The following graph shows the weekly market demand for cheesecake in a small economy.
ng.cengage.com
Mind Tap - Cengage Learning
for her 8th slice of cheesecake each week. Because she has to pay only
NOV
8
Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of cheesecake is $3.00 per slice. Then,
use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $2.25 per slice.
BO
♫
NA
Q Search this course
tv
from the 8th
(1) WhatsApp
W
Wed Nov 8 4:32 PM
+ +
Amandeep ✓
0 X
DOCK
A-Z
bon
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