Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ will buy motor scooters at the given market price, and total

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 7PA
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Question
uccess Tips
Based on the information on the previous graph, you can tell that
consumer surplus in this market will be $
Success Tips
1
SIGN OUT
1
Q
Suppose the market price of a motor scooter increases to $100.
A
T
ption
F
Z
On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to
purchase a motor scooter at the new market price: orange (square symbols) for Manuel, green (triangle symbols) for Poornima, purple (diamond
symbols) for Shen, tan (dash symbols) for Valerie, and blue (circle symbols) for Antonio. (Note: If a person will not purchase a motor scooter at the
new market price, indicate this by leaving his or her rectangle in its original position on the palette.)
?
@
2
W
160
S
4
140
120
100
X
comman
command
BO
60
40
20
#
3
Manuel
160
с
E
Poornima
D
S
4
CO
Shen
FR
FF
Valerie
26
8
5
W
Market Price
Antonio
G Search or type URL
T
♫
G
6
stv
B
YY
TH
Manuel
Poornima
77
Shen
Valerie
N
TA
☆
LU
JJ
will buy motor scooters at the given market price, and total
8
11
M
€9
K
<
1
H
alt
CO
L
command
*
P
V
➡
;
option
11
1
}
A
53
(11
dedelete
retre
Transcribed Image Text:uccess Tips Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ Success Tips 1 SIGN OUT 1 Q Suppose the market price of a motor scooter increases to $100. A T ption F Z On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to purchase a motor scooter at the new market price: orange (square symbols) for Manuel, green (triangle symbols) for Poornima, purple (diamond symbols) for Shen, tan (dash symbols) for Valerie, and blue (circle symbols) for Antonio. (Note: If a person will not purchase a motor scooter at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) ? @ 2 W 160 S 4 140 120 100 X comman command BO 60 40 20 # 3 Manuel 160 с E Poornima D S 4 CO Shen FR FF Valerie 26 8 5 W Market Price Antonio G Search or type URL T ♫ G 6 stv B YY TH Manuel Poornima 77 Shen Valerie N TA ☆ LU JJ will buy motor scooters at the given market price, and total 8 11 M €9 K < 1 H alt CO L command * P V ➡ ; option 11 1 } A 53 (11 dedelete retre
Homework (Ch 07)
symbois) for Snen, tan (aasn symbois) ror valerie, and Diue (circie symbois) Tor Antonio. (Note: ir a person will not purchase a motor scooter at the
new market price, indicate this by leaving his or her rectangle in its original position on the palette.)
(?)
Tips
Tips
UT
2
W
S
160
PRICE (Dollars per motor scooter)
140
120-
100
80
860
40
20
0
#f
3
.
0
C
Manuel
E
Poornima
2
$$
4
Shen
FR
Valerie
4
5
QUANTITY (Motor scooters)
to
26
Based on the information in the second graph, when the market price of a motor scooter increases to $100, the number of consumers willing to buy a
motor scooter
▼
and total consumer surplus
to
Market Price
Antonio
55
W
6
G Search or type URL
T
7
6
B
8
stv
YY
HH
Manuel
77
Poornima
Shen
Valerie
Antonio
all 4
N
☆
W
**
$8
JJ
+
11
O
(
K
music
H
s.lt
})
CO
*
P
option
search this co
Ⓡ
bong
A+
Transcribed Image Text:Homework (Ch 07) symbois) for Snen, tan (aasn symbois) ror valerie, and Diue (circie symbois) Tor Antonio. (Note: ir a person will not purchase a motor scooter at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) (?) Tips Tips UT 2 W S 160 PRICE (Dollars per motor scooter) 140 120- 100 80 860 40 20 0 #f 3 . 0 C Manuel E Poornima 2 $$ 4 Shen FR Valerie 4 5 QUANTITY (Motor scooters) to 26 Based on the information in the second graph, when the market price of a motor scooter increases to $100, the number of consumers willing to buy a motor scooter ▼ and total consumer surplus to Market Price Antonio 55 W 6 G Search or type URL T 7 6 B 8 stv YY HH Manuel 77 Poornima Shen Valerie Antonio all 4 N ☆ W ** $8 JJ + 11 O ( K music H s.lt }) CO * P option search this co Ⓡ bong A+
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