The graph shows the demand curve for sleeping bags and the market price of a sleeping bag. Draw a point to show the quantity of sleeping bags bought and the price paid. Draw a shape that represents the consumer surplus from the sleeping bags bought Label it. Draw a shape that represents the amount paid for the sleeping bags bought. Label it. The consumer surplus equals 5 The total amount paid for the quantity bought is $ The total benefit from the sleeping bags bought is 120 100- 80- 60+ 40- 20- Price (dollars per sleeping bag) 0+ 0 Market price D 90 60 Quantity (sleeping bags per day) >>> Draw only the objects specified in the question. 120

The graph shows the demand curve for sleeping bags and the market price of a sleeping bag. Draw a point to show the quantity of sleeping bags bought and the price paid. Draw a shape that represents the consumer surplus from the sleeping bags bought Label it. Draw a shape that represents the amount paid for the sleeping bags bought. Label it. The consumer surplus equals 5 The total amount paid for the quantity bought is $ The total benefit from the sleeping bags bought is 120 100- 80- 60+ 40- 20- Price (dollars per sleeping bag) 0+ 0 Market price D 90 60 Quantity (sleeping bags per day) >>> Draw only the objects specified in the question. 120

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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