27. If the demand for a pack of cigarettes is -50-$5P For a typical smoker and the price per pack is $8, how many packs of cigarettes does the person buy? What is his/her consumer surplus?

Marcus buys a tablet for $5,000. What determines the size of consumer surplus Marcus receives? Explain.

3) A government directly provides 20 units in a local market through an auction of surplus property. The METB is 0.2. The elasticity of demand is -4. Other pertinent information is provided in the figure. Calculate the changes in PS, CS, GS, and SS associated with the sale. S+20 S 10.0 9.5 D 50

6 . Consumer Surplus Ana buys an iPhone for $150 and gets a consumer surplus of $200. Her willingness to pay for an iPhone is $_________.   If she had bought the iPhone on sale for $100, her consumer surplus would have been $_______.   If the price of the iPhone had been $370, her consumer surplus would have been $_________.

Hand written plz asap i'll upvote

Question 3 The current price of a good is $25, and 100 units are demanded at that price. The price elasticity of demand for the good is-2. When the price of the good drops by 4 percent to $24, consumer surplus will increase or decrease? By how much?

The graph shows the demand curve for wallets and the market price of a wallet. Price (dollars per wallet) 18.00- What is the consumer surplus on wallets? 16.00- What is the total expenditure on wallets? 14.00- What is the total benefit of wallets? Market 12.00- price .... 10.00- Draw a point that shows the quantity of wallets bought and the price paid. 8.00- Draw a shape that represents the consumer surplus. Label it CS. 6.00- 4.00- Draw a shape that represents total expenditure. Label it TE. 2.00- m 0.00- 30 Quantity (wallets per day) 15 45 60 75 90 105 The consumer surplus is $- As Total expenditure on wallets is >>> Draw only the objects specified in the question. SS Total benefit of wallets is $ O Time Remaining: 00:54:18 Next ced rse (ECON202 s2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9e

Just complete Question 7A and 7B

Kyra buys an iPhone for $240 and gets consumersurplus of $160.a. What is her willingness to pay?b. If she had bought the iPhone on sale for $180,what would her consumer surplus have been?c. If the price of an iPhone were $500, what wouldher consumer surplus have been?

To economists, the term "consumer surplus" means: Select one: a. the difference between the price a consumer is willing to pay and the price that suppliers are willing to accept. b. the excess money consumers have left over after purchasing goods. c. the consumer's net benefit from trading. d. the difference between the price a consumer is able to pay and willing to pay.