The graph shows the demand curve for ice cream cones and the market price of an ice cream cone. Draw a point that shows the value of the 10th ice cream cone. Label it 1. Draw a point that shows the willingness to pay for the 20th ice cream cone. Label it 2. Draw an arrow that shows the consumer surplus on the 20th ice cream cone. Label it CS. The consumer surplus on the 20th ice cream cone is >>> Answer to 2 decimal places. 4.50 4.00- 3.50 3.00- 2.50 2.00- 1.50 1.00 0.50 0.00+ Price (dollars per ice cream cone) Market price 10 D 20 30 40 50 60 Quantity (ice cream cones per day) >>> Draw only the objects specified in the question. O

The graph shows the demand curve for ice cream cones and the market price of an ice cream cone. Draw a point that shows the value of the 10th ice cream cone. Label it 1. Draw a point that shows the willingness to pay for the 20th ice cream cone. Label it 2. Draw an arrow that shows the consumer surplus on the 20th ice cream cone. Label it CS. The consumer surplus on the 20th ice cream cone is >>> Answer to 2 decimal places. 4.50 4.00- 3.50 3.00- 2.50 2.00- 1.50 1.00 0.50 0.00+ Price (dollars per ice cream cone) Market price 10 D 20 30 40 50 60 Quantity (ice cream cones per day) >>> Draw only the objects specified in the question. O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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