Question 34Refer to the Figure 2-1. What is consumer surplus after the tax? You can answer this in one (or more) of the following ways:Paste a picture or drawing of where to visually find the consumer surplus on the graph.Describe in words where on a graph you would find consumer surplus (ex: in relation to supply curve, demand curve, above or below or between certain price or quantities)Calculate the consumer surplus numerically.Describe conceptually what the consumer surplus is in this context. Figure 2-120 Trice18161412106.4D10 20 30 40 50 60 70 80 quantity

Consumers surplus is the area above the price and below the demand curve.

Answered: Refer to the Figure 2-1. What is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 34

Refer to the Figure 2-1. What is consumer surplus after the tax?

You can answer this in one (or more) of the following ways:

Paste a picture or drawing of where to visually find the consumer surplus on the graph.
Describe in words where on a graph you would find consumer surplus (ex: in relation to supply curve, demand curve, above or below or between certain price or quantities)
Calculate the consumer surplus numerically.
Describe conceptually what the consumer surplus is in this context.

Figure 2-1
20 Trice
18
16
14
12
10
6.
4
D
10 20 30 40 50 60 70 80 quantity

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