sed on the information on the previous graph, you nsumer surplus in this market will be $ uppose the market price of a motor scooter increas On the following graph, use the rectangles once aga purchase a motor scooter at the new market price: symbols) for Lorenzo, tan (dash symbols) for Neha, new market price, indicate this by leaving his or he 160 140 PRICE (Dollars per motor scooter) 120 100 80 60 40 20 0 0 Gilberto 1 Juanita 2 Lorenzo Neha Sam 3 4 5 QUANTITY (Motor scooters) E
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- The following graph shows the demand curve for a group of consumers in the U.S. market (blue line) for tablets. The market price of a tablet is shown by the black horizontal line at $80. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Larry, green (triangle symbols) for Megan, purple (diamond symbols) for Raphael, tan (dash symbols) for Susan, and blue (circle symbols) for Alex. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $80. (Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.)The following graph shows the demand curve for a group of consumers in the U.S. market (blue line) for tablets. The market price of a tablet is shown by the black horizontal line at $120. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Paolo, green (triangle symbols) for Sharon, purple (diamond symbols) for Van, tan (dash symbols) for Amy, and blue (circle symbols) for Carlos. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $120. (Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) Based on the information on the previous graph, you can tell that____will buy tablets at the given market price, and total consumer surplus in this market will be___ Suppose the market price of a tablet decreases…The following graph plots the demand curve (blue line) for several consumers in the market for VR headsets in Mead, a small town located in Colorado. The Mead market price of a VR headset is given by the horizontal black line at $180. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Jacques, green (triangle symbols) for Kyoko, purple (diamond symbols) for Musashi, tan (dash symbols) for Rina, and blue (circle symbols) for Sean. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a VR headset at a market price of $180. (Note: If a person will not purchase a VR headset at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) PRICE (Dollars per VR headset) 480 420 360 300 240 180 120 60 0 0 1 Jacques 2 Kyoko Musashi Rina Sean 3 4 5 QUANTITY (VR headsets) Market Price 6 7 8 Based on the…
- You own a hot dog stand that you set up outside the student union every day at lunch time. Currently, you are selling hot dogs for a price of $3, and you sell 30 hot dogs a day (point A on the diagram). You are considering cutting the price to $2. The graph shows two possible increases in the quantity sold as a result of your price cut. Use the information in the graph (new quantities are given on the horizontal axis) to calculate the price elasticity between these two prices on each of the demand curves. Use the midpoint formula to calculate the price elasticities. On the demand curve containing the points "A" and "B", the price elasticity of demand for a price cut from $3 to $2 is. (Hint: Include the negative sign and enter your response rounded to two decimal places.) On the demand curve containing the points "A" and "C", the price elasticity of demand for a price cut from $3 to $2 is. (Hint: Include the negative sign and enter your response rounded to two decimal places.) Price…You own a hot dog stand that you set up outside the student union every day at lunch time. Currently, you are selling hot dogs for a price of $3, and you sell 30 hot dogs a day (point A on the diagram). You are considering cutting the price to $2. The graph shows two possible increases in the quantity sold as a result of your price cut. Use the information in the graph (new quantities are given on the horizontal axis) to calculate the price elasticity between these two prices on each of the demand curves. Use the midpoint formula to calculate the price elasticities. A On the demand curve containing the points "A" and "B", the price elasticity of demand for a price cut from $3 to $2 is|. (Hint: Include the negative sign and enter your response rounded to two decimal places.) D2 On the demand curve containing the points "A" and "C", the price elasticity of demand for a price cut from $3 to $2 is. (Hint: Include the negative sign and enter your response rounded to two decimal places.) :37…The owner of Grand Central Bookstore is looking into the sales of its Health & Fitness magazine section. She finds that her equilibrium is at 800 magazines per month sold at an average price of $4.75 per magazine. When the price of these Health & Fitness magazines rose to $5.00 each, the quantity sold fell to 725 magazines per month, while the quantity supplied to her increased to 900 a month. From the scenario described, answer the questions below. Draw an appropriate graph for Grand Central’s Bookstore’s to illustrate this change in the Health & Fitness magazines market position when the price rises to $5.00. Calculate the price elasticity of demand for the Health & Fitness magazines between prices $4.75 and $5.00. Is it elastic or inelastic? How do you know? Calculate the price elasticity of supply for the Health & Fitness magazines between prices $4.75 and $5.00. Is it elastic or inelastic? How do you know based on your answer? The owner also noticed that…
- Suppose that you, Julio, and Yusef constitute the market for CDs. Your demand for CDs is illustrated in the graph to the right (D₁), along with Julio's demand (D₂) and Yusef's demand (D3). Using the line drawing tool, construct the market demand curve for CDs. To do this, you will need to use three line segments labeled Dsegment 1, Dsegment 2, and Dsegment 3- Carefully follow the instructions above, and only draw the required objects. Price of CDs 30 D3 28- 26- 24- 22- 20-92 18+ 16- 14- 12- 10-01 8- 6- 4 2- 0- 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity of CDsIndividual and market demand Suppose that Sean and Yvette are the only consumers of ice cream cones in a particular market. The following table shows their monthly demand schedules: Price Sean’s Quantity Demanded Yvette’s Quantity Demanded (Dollars per cone) (Cones) (Cones) 1 8 16 2 6 12 3 4 8 4 2 6 5 0 4 On the following graph, plot Sean’s demand for ice cream cones using the green points (triangle symbol). Next, plot Yvette’s demand for ice cream cones using the purple points (diamond symbol). Finally, plot the market demand for ice cream cones using the blue points (circle symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. Sean’s DemandYvette’s DemandMarket Demand048121620246543210PRICE (Dollars per cone)QUANTITY (Cones)Suppose that you, Jennifer, and Yusef constitute the market for CDs. Your demand for CDs is illustrated in the graph to the right (D₁), along with Jennifer's demand (D₂) and Yusef's demand (D3). Using the line drawing tool, construct the market demand curve for CDs. To do this, you will need to use three line segments labeled Dsegment 1 Dsegment 2, and Dsegment 3. Carefully follow the instructions above, and only draw the required objects. COLLE Price of CDs 307 284 26- 24- 22- 20-0₂ 184 16- 14- 12- 10- 84 64 44 NA 2- 0- 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity of CDs (0,28) Q OU
- 4- 2- 0- Suppose that you, Jennifer, and Yusef constitute the market for DVDs. Your demand for DVDs is illustrated in the graph to the right (D₁), along with Jennifer's demand (D2) and Yusef's demand (D3). Using the line drawing tool, construct the market demand curve for DVDs. To do this, you will need to use three line segments labeled Dsegment 1, D segment 2, and Dsegment 3 Carefully follow the instructions above, and only draw the required objects. ... Price of DVDs 30- 3 28- 26- 24- 22- 20 D2 18- 16- 14- 12 10- 8- 6- 0 2 + ☑ 6 8 10 12 14 16 18 20 22 24 26 28 30 Quantity of DVDs Clear all Check answer. alve this Get more help.You are advising Roy on the opening of his Original-Original Famous Pizzeria. By plotting the points below on a coordinate plane, you can show Roy the price points that would lead to a shortage of slices, a surplus of slices, and the point of maximum efficiency per slice. On the graph paper below: label your vertical axis with prices and your horizontal axis with quantity, plot each point of the demand and draw the curve with one color. plot each point of supply and draw the curve with a different color, identify the equilibrium point on your graphS S The following graph plots the demand curve (blue line) for several consumers in the market for bluetooth speakers in Meade, a small town located in Kansas. The Meade market price of a bluetooth speaker is given by the horizontal black line at $60. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Andrew, green (triangle symbols) for Beth, purple (diamond symbols) for Darnell, tan (dash symbols) for Eleanor, and blue (circle symbols) for Jacques. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a bluetooth speaker at a market price of $60. (Note: If a person will not purchase a bluetooth speaker at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) PRICE (Dollars per bluetooth speaker) 160 140 120 100 80 60 40 20 0 0 Andrew 1 Beth Darnell 2 Eleanor 5 Market Price Jacques 6 3 4…