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The following graph shows the supply curve for a group of sellers in the U.S. market for tablets (orange line). Each seller has only one tablet to sell. The market price of a tablet is shown by the black horizontal line at $175. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a tablet at a market price of $175. (Note: If a person will not sell a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Sam Darnell 300 250 Teresa Beth 200 Market Price Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information on the preceding graph, you can tell that will sell tablets at the given market price, and total producer surplus in this market will bes PRICE (Dollars per tablet) On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a tablet at the new market price: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: If a person will not sell a tablet at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Darnell Sam 300 Market Price 250 Teresa Beth 200 Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information in the second graph, when the market price of a tablet increases to $275, the number of sellers willing to sell a tablet to and total producer surplus to PRICE (Dollars per tablet) 3)

The following graph shows the supply curve for a group of sellers in the U.S. market for tablets (orange line). Each seller has only one tablet to sell. The market price of a tablet is shown by the black horizontal line at $175. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a tablet at a market price of $175. (Note: If a person will not sell a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Sam Darnell 300 250 Teresa Beth 200 Market Price Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information on the preceding graph, you can tell that will sell tablets at the given market price, and total producer surplus in this market will bes PRICE (Dollars per tablet) On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a tablet at the new market price: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: If a person will not sell a tablet at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Darnell Sam 300 Market Price 250 Teresa Beth 200 Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information in the second graph, when the market price of a tablet increases to $275, the number of sellers willing to sell a tablet to and total producer surplus to PRICE (Dollars per tablet) 3)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following graph shows the supply curve for a group of sellers in the U.S. market for tablets (orange line). Each seller has only one tablet to sell. The market price of a tablet is shown by the black horizontal line at $175. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a tablet at a market price of $175. (Note: If a person will not sell a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Sam Darnell 300 250 Teresa Beth 200 Market Price Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information on the preceding graph, you can tell that will sell tablets at the given market price, and total producer surplus in this market will bes PRICE (Dollars per tablet)
Transcribed Image Text:The following graph shows the supply curve for a group of sellers in the U.S. market for tablets (orange line). Each seller has only one tablet to sell. The market price of a tablet is shown by the black horizontal line at $175. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a tablet at a market price of $175. (Note: If a person will not sell a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Sam Darnell 300 250 Teresa Beth 200 Market Price Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information on the preceding graph, you can tell that will sell tablets at the given market price, and total producer surplus in this market will bes PRICE (Dollars per tablet)
On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a tablet at the new market price: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: If a person will not sell a tablet at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Darnell Sam 300 Market Price 250 Teresa Beth 200 Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information in the second graph, when the market price of a tablet increases to $275, the number of sellers willing to sell a tablet to and total producer surplus to PRICE (Dollars per tablet) 3)
Transcribed Image Text:On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a tablet at the new market price: blue (circle symbols) for Sam, green (triangle symbols) for Teresa, purple (diamond symbols) for Andrew, tan (dash symbols) for Beth, and orange (square symbols) for Darnell. (Note: If a person will not sell a tablet at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) 400 350 Darnell Sam 300 Market Price 250 Teresa Beth 200 Andrew 150 Andrew 100 Teresa Beth 50 Sam Damell QUANTITY (Tablets) Based on the information in the second graph, when the market price of a tablet increases to $275, the number of sellers willing to sell a tablet to and total producer surplus to PRICE (Dollars per tablet) 3)
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