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
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- What is consumer surplus? How is it illustrated on a demand and supply diagram?What is the relationship between total surplus and economic efficiency?The graph below depicts Jacques's monthly demand for tuna. Suppose the price of tuna falls from $12 per pound to $8 per pound. On the diagram, use the area drawing tool to box in the changein Jacques's consumer surplus. To refer to the graphing tutorial for this question type, please click here. Jacques's Monthly Demand for Tuna Price per pound 16 15 14 13 12 11 10 9 7 4 3 2 1 るる る + SUBMIT ANSWER 4 VIEW SOLUTION 7 OF 14 QUESTIONS COMPLETED MacBook Pro
- Is The following graph plots the supply and demand curves in the market for VR headsets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset) 400 300 320 200 240 200 160 120 BO 40 0 0 Demand Supply 75 400 525 600 676 750 150 225 300 375 QUANTITY (Millions of headsets) Total surplus in this market is $ million, Equilibrium A Consumer Surplus ◊ Producer Surplus Bas & Pant course 0xComplete the followingThe following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used calculator. 300 250 Rosa 200 Area: 200 Nick 150 Latasha A O 100 Jake Frances 50 Dmitri 2 3 6 QUANTITY (Used calculators) PRICE (Dollars per used calculator) B.
- The graph shows the market for hamburgers, and the consumer surplus and producer surplus. What is total surplus? Total surplus is $ If the quantity demanded of hamburgers decreases by 80 an hour at each price, the demand curve shifts leftward from D, to D₁. Draw a point at the new equilibrium price and equilibrium quantity. Draw a shape to show the new producer surplus and labelit PS. Draw a shape to show the new consumer surplus and label it CS. By how much does total surplus change when demand decreases? Total surplus by $. 0 9.00 8.00- 7.00- 6.00- 5.00- 4.00- 3.00 2.00 1.00- 0.00 Price (dollars per hamburger) 0 20 9.00 8.00 7.00- 6.00- 5.00- 4.00- 3.00 2.00 S 1.00 0.00- Price (dollars per hamburger) 0 D₁ Do 40 60 80 100 120 140 160 180 Quantity (hamburgers per hour) S D 20 40 60 80 100 120 140 160 180 Quantity (hamburgers per hour) Q Q Q ✔ >>> Draw only the objects specified in the question.Suppose that you have information indicating that the price of steel (an important input ofproduction in the auto industry) has doubled during the past few months. Show howthis economicshock will influence the market for American made cars and give your predictions for equilibriumprice and sales change.please draw the graph for question3, dont you respond me with chat gpt and dont give and writen solution Draw a correctly labelled demand and supply graph for the market for toilet paper in the US with an equilibrium price of $20 per pack: You should label your vertical axis as "Price" and the horizontal axis as "Quantity". Draw a downward-sloping demand curve and an upward-sloping supply curve. Label the point where they intersect as the equilibrium point, with a price of $20 per pack. During the pandemic, more people were buying toilet paper in fear that it would run out. On the same graph, show how this affects the market for toilet paper. Explain your answer: The increased fear would cause a shift to the right in the demand curve, indicating higher demand at each price level. This would move the equilibrium point up along the supply curve, indicating a higher price and quantity sold. Now impose a price ceiling at $15 per pack. What would be the impact of the price ceiling…
- Suppose a tax is levied in the market for soda. Consider a $0.50 excise tax on producers for each soda sold. The graph illustrates the demand and supply curves for soda both before and after the tax is levied. Use the graph below to answer the remaining parts of this question. d. What is the consumer surplus generated after the imposition of the tax? Shade in this area on the graph. Instructions: Use the tool provided “CStax” to illustrate this area on the graph. Consumer surplus after the imposition of the tax is $ thousand. e. What is the producer surplus generated after the imposition of the tax? Shade in this area on the graph. Instructions: Use the tool provided “PStax” to illustrate this area on the graph. Producer surplus after the imposition of the tax is $ thousand. f. What is the total revenue generated from the tax? Shade in this area on the graph. Instructions: Use the tool provided “TR” to illustrate this area on the graph. Tax…Suppose a tax is levied in the market for soda. Consider a $0.50 excise tax on producers for each soda sold. The graph illustrates the demand and supply curves for soda both before and after the tax is levied. Use the graph below to answer the remaining parts of this question. SEE GRAPH d. What is the consumer surplus generated after the imposition of the tax? Shade in this area on the graph. Instructions: Use the tool provided “CStax” to illustrate this area on the graph. Consumer surplus after the imposition of the tax is $ _____ thousand. e. What is the producer surplus generated after the imposition of the tax? Shade in this area on the graph. Instructions: Use the tool provided “PStax” to illustrate this area on the graph. Producer surplus after the imposition of the tax is $ _____ thousand. f. What is the total revenue generated from the tax? Shade in this area on the graph. Instructions: Use the tool provided “TR” to illustrate this area on the graph. Tax…How will each of the following demand and buppyaffects euelionium price and exuelibrium quantityi market: Competitive @Demand deereatee and Sepply is Constant