please solve a and b USE TABLE #1:The calculationyou used to find the consumer surplus for the efficient market forelectric automobiles is 1/2 x ($) x (). (Remember to use a comma, if a commais needed and to include the decimal point and two numbers to the right of thedecimal point).USE TABLE #1:Now, assume the market for electric automobiles is an efficient market. Theconsumer surplus for the market for electric automobiles is $ . (Remember to usea comma,if a comma is needed and to include the decimal point and two numbers tothe right of the decimal point). FIGURE #1:Price (dollars perPrice (dollars perton of plywood)ton of plywood)D2DIDD2Quantity (tons ofplywood per month)Figure AQuantity (tons ofplywood per month)Figure BPrice (dollars perton of plywood)Price (dollars perton of plywood)S2S2DQuantity (tons ofplywood per month)Quantity (tons ofplywood per month)Figure CFigure DTABLE #1:The following table shows different points on the linear supply and demand curves for electric automobiles:QuantitySuppliedIn Units60120180240300360Price$0.00$20,000.00$40,000.00$60,000.00$80,000.00$100,000.00$120,000.00QuantityDemanded720600480360240120In Units

We have given the demand and supply schedule of electronic automobile. And the data reflected that…

USE TABLE #1: The calculation you used to find the consumer surplus for the efficient market for electric automobiles is 1/2 x ($ -%24 )x ( ). (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point). USE TABLE #1: Now, assume the market for electric automobiles is an efficient market. The consumer surplus for the market for electric automobiles is $____. (Remember to us a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point).

USE TABLE #1: The calculation you used to find the consumer surplus for the efficient market for electric automobiles is 1/2 x ($ -%24 )x ( ). (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point). USE TABLE #1: Now, assume the market for electric automobiles is an efficient market. The consumer surplus for the market for electric automobiles is $____. (Remember to us a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point).

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 1PA

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