Question 33r The graph shows the demand curve for blankets and the market price of a blanket.Next questionPrice (dollars per blanket)90-75Draw a point that shows the value of the 40th blanket. Label it 1.Draw a point that shows the willingness to pay for the 20th blanket. Label it 2.60-Draw an arrow to show the consumer surplus on the 20th blanket. Label it CS.45-What is the consumer surplus on the 20th blanket?Market30The consumer surplus on the 20th blanket is $.priceD15-10304050Quantity (blankets per day)20607080>>> Draw only the objects specified in the question.O Time Remaining: 00:58:08MacBook Proesc@#$1346.8

graph shows the demand curve for blankets and the market price of a blanket. Next question 90 .... 75 aw a point that shows the value of the 40th blanket. Label it 1. aw a point that shows the willingness to pay for the 20th blanket. Label it 2. 60- raw an arrow to show the consumer surplus on the 20th blanket. Label it CS. 45- /hat is the consumer surplus on the 20th blanket? 30- he consumer surplus on the 20th blanket is $. 15-

graph shows the demand curve for blankets and the market price of a blanket. Next question 90 .... 75 aw a point that shows the value of the 40th blanket. Label it 1. aw a point that shows the willingness to pay for the 20th blanket. Label it 2. 60- raw an arrow to show the consumer surplus on the 20th blanket. Label it CS. 45- /hat is the consumer surplus on the 20th blanket? 30- he consumer surplus on the 20th blanket is $. 15-

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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