Ryan would be willing to pay $1 for a lollipop. Sarah would be willing to pay $0.50. The price of the lollipop is $0.75. What is Ryan and Sarah's combined consumer surplus? a. $0 b. $0.25 c. $0.50 d. $0.75 Can someone please explain to me why the correct answer here is $0.25? I did the calculations and i keep getting $0 the follwing is my calculations

Q: table below shows how much five consumers are wi ise's specialty taco. Each person is willing to…

A: Consumer surplus is the difference between the maximum willingness to pay and the actual payment for…

Q: The U.S. market for snowboards is currently in equilibrium at price $220. Burton finally starts…

A: Consumer surplus is the area below demand curve and above price.  Equilibrium is where the demand…

Q: The figure below depicts a typical JMU student's demand for cheeseburgers. $ per ride $22 $20 $18…

A: Consumer surplus is the area above the price and below the demand curve.At Price = $6, Quantity = 7…

Q: First pack $20 Second pack $15 Third pack $10 Fourth pack $8 Fifth pack $5 The table above shows…

A: Here, willingness to pay of a consumer is given at different quantity of pack.

Q: With the help of appropriate diagrams, explain how a tax can be used to reduce the consumption of a…

A: Tax are contribution to goverment which are levied on individual as well as or a firm which are…

Q: Referring to the following graph, calculate the consumer surplus, if there is a price control at $3:…

A: The consumer has a specific desire that they wanted to pay to obtain a specific good. However, the…

Q: Refer to the figure below for parts a and b.     Instructions: Round your answers to two decimal…

A: Equilibrium quantity and price for tge given scenario is  Q=40 and P=2. Consumer surplus is the area…

Q: 1. Consumer and Producer Surplus If sandals are selling in the marketplace for $55, that does not…

A: Surplus is the benefit that society's agents recieve when they find the some some differences in the…

Q: Consumer surplus is measured as the area: between the demand curve, the supply curve, and the price…

A: Consumer Surplus can be defined as the surplus or the benefit available to the consumer while…

Q: Parents in Eldham want their kids to learn the piano. The families in the table below are in the…

A: The equilbrium price and quantity of a good sold in the market ae determined by the forces of demand…

Q: Ivan has inherited his grandmother’s 1963 Chevrolet Corvette, which he values at $45,000. He decides…

A: Answer  Yes, Ivan and Samantha both profit in their own way, so they trade voluntarily. Ivan gets…

Q: 16 thl 12 10 8 6 4 2 Price, $ ○ 10 20 30 40 50 S 50 60 70 D 80 K 0 06

A: Market equilibrium: At the market equilibrium demand equals supply. Or at market equilibrium point…

Q: I think the answer to this is C but I am also not sure. The additional benefit to a consumer from…

A: Consumer Surplus: Consumer surplus is the benefits that the consumer receives by purchasing products…

Q: Price (dollars per unit) Price (dollars per unit) D Quantity (units per month) Quantity (units per…

A: Vertical demand curve is perfectly inelastic and horizontal demand curve is perfectly elastic.

Q: In the market for a particular pair of sunglasses, Eboni is willing to pay $90 for a pair while…

A: Consumer surplus (CS) is the difference between the maximum willingness to pay and the actual price…

Q: Based on the figure below, consumer surplus is $0 when price is greater than or equal to $ Price ($)…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve.The…

Q: The following table shows Carl's willingness to pay for clothing. Quantity of Clothing 2 Carl would…

A: Consumer surplus is the surplus, that is, benefit, received by a consumer by consuming units of a…

Q: What is consumer surplus and producer surplus?

A: Equilibrium in the market takes place at the intersection of demand and supply curve.  Consumer…

Q: The graph accompanying this question shows a market in which the government has imposed an excise…

A: The demand curve shows an inverse relationship between price and quantity demanded. Demand is a…

Q: Look at Tables together. What is the total surplus if Bob buys a unit from Carlos? If Barb buys a…

A: The consumer surplus (CS) is an economic measure to the welfare gains that people get from consuming…

Q: hetical offers Eric might make for Ginny's burger. Sinny gets from buying the burger for $1.00,…

A: Blanks 1) at least zero, as if P= valuation, CS = 0 if Valuation> P, CS = +ve, CS can't be…

Q: Janice is willing to pay $100 for the first pair of shoes, $80 for the second pair, $50 for a third,…

A: Considering the above situation, Janice will not purchase the shoes that is below $50. So, she…

Q: The government has set milk prices artificially high at pt (price/unit). Sketch a graph of a supply…

A: The demand is the affordability of a person who is willing to pay the price in the market for the…

Q: What is the source of DWL? What is the recipe for finding the area of consumer surplus (CS)? Hint:…

A: DWL stands for deadweight loss. Consumer Surplus is the difference between what the consumer is…

Q: Consumer surplus is defined as: the difference between the market price and the marginal cost of…

A: In simple terms, the consumers on most occasions receive an additional benefit from purchasing a…

Q: Consider the national market for in-home child care in the accompanying graph. Rate ($ per hour) $20…

A: The customers and sellers interact in a location to exchange products is called a market.  The…

Q: On the Dollar value of the X axis starts at 0 at corner of the graph and goes up 1, 2, 3 and the…

A: Consumer surplus is the difference between what you are willing to pay and what you actually pay. X…

Q: Consumer surplus exists when a A) person buys something with a marginal benefit more than what they…

A: Consumer surplus can be understood when the consumer willingness to pay is higher than the actual…

Q: Question 4 (0.5 points) 15 Demand + Subsidy 14 13 12 11 Demand MB = 10 9 Price 6543210 Supply = MC 0…

A: With the subsidy, the new equilibrium quantity is 40 units, and the new equilibrium price is $6.Two…

Q: First pack $20 Second pack $15 Third pack $10 Fourth pack $8 Fifth pack $5 The table above shows…

A: The term "consumer surplus" refers to a monetary measure of consumer advantages. When customers pay…

Q: Suppose that Ty, George, Joe, and Ted are potential buyers of a rare Honus Wagner baseball card.…

A: Here the orange shaded area is the consumer surplus and the pink shaded area is producer surplus or…

Q: he market for a particular pair of shoes, Gert is willing to pay $65 for a pair, while Jane is…

A: Consumer surplus is the difference between what the person is willing to pay and the price the…

Q: Amanda buys a ruby for $240 for which she was wlling to pay $340. The minimum acceptable price to…

A: Producers surplus: It is the measurement of the benefit that the producer derives from producing and…

Q: There are six potential consumers of computer games, each willing to buy only one game. The…

A: Consumer Surplus:Consumer surplus is a measure of the ecenomic benefit that consumers receive when…

Q: Assume shoes must be purchased in integer quantities. RuPaul and Priyanka are performers. The table…

A: Every consumer has a maximum price  that the consumer is willing to pay for a product. In the…

Q: The screenshot shows a graph market for movies at equilibrium: A) Calculate Consumer, producer, and…

A: Given

Q: What would happen to consumer surplus, producer surplus and deadweight loss if the government stops…

A: The subsidy is the market tools available to the governing body in order to promote specific…

Q: In the market for a pair of shoes, Jena is willing to pay $75 for a pair while Jane is willing to…

A: Consumer surplus refers to the difference between willingness to pay and the actual price of the…

Q: Price (dollars per unit) Price (dollars per unit) Quantity (units per month) Quantity (units per…

A: A deadweight loss is a reduction in economic efficiency caused by supply and demand imbalances. In…

Q: Buyer Willingness to Pay Jennifer yce $15 Dan $20 David $25 Ken sa $60 Refer to Table 7-4. If ticket…

A: Consumer surplus is the amount when buyers pay less than their willingness for a good or service. It…

Q: ling to buy at most one papadum and no more. Table 1 Willingness to pay (S) for one papadum Buyer…

A:

Q: Identify at least one positive externality from running a donut shop. Identify at least one negative…

A: Concept Externalities are the effects of production or consumption that are placed on third parties.…

Q: Anderson is willing to pay $12. Kendrick can provide the item for $10, but producing the item…

A: To calculate the total surplus from the transaction, we need to consider the consumer surplus (CS),…