Consider again the two schemes. Which scheme will the farmers prefer? Consider again the two schemes. Which scheme will corn buyers prefer?

Typed plz and Asap  Thanks

Homework 4- Compatibility Mode - Saved to this PC O Search Joseph Mercad Layout References Mailings Review View Help OFine Rom-12 - A A Aa A !! AaBbCcl AaBbCel AaBbC AaB AaBbCcc Rep xx A--A、 三山册一研, 一、田, I Normal I No Spac. Heading 1 Subtitle Title A Seles Font Paragraph Styles Editin Chapters 7: Welfare: Consumer and Producer Surplus 5. Explain the concept of consumer surplus. 6. Melinda buys an iPhone for $700 and gets a consumer surplus of $160. a. What is her willingness to pay? b. If she had bought the iPhone on sale for $500, what would her consumer surplus have been. c. If the price of an iPhone wvere $900, what would her consumer surplus have been? 7. The demand schedule for toasters, is given below. The price of toasters is $20. a Graph the demand curve to scale and identify the area that represents the consumer surplus ($) (millions) 120 10 100 20 80 30 60 40 40 50 20 60 Focus up ho IOI 10 4+ 23 3. %2$ 4 & 5. 6. 7. 8. LO |米

Question: In terms of economics, why would American soybean producers care about the weather in South America?