Price per unitSupply & Demand$34a.1812leC.6.1.D.32 4468Units per dayThe graph above shows the market for movie tickets ata small theatre. The letters on the graph represent thebounded areas.Using the graph above, if the price is set to $12, what isthe consumer surplus in the market?Note: enter answer with only numerical values and roundup to the nearest tenth. For example, if you think theanswer is "$101.58" then enter the answer "101.6" in thespace below.

Consumer surplus is the area above the price line and under the demand curve. The price is set at…

Answered: Supply & Demand $34 18 13 Price per…

Business

Economics

Supply & Demand $34 18 13 Price per unit

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

Price per unit
Supply & Demand
$34
a.
18
12
le
C.
6.
1.
D.
32 44
68
Units per day
The graph above shows the market for movie tickets at
a small theatre. The letters on the graph represent the
bounded areas.
Using the graph above, if the price is set to $12, what is
the consumer surplus in the market?
Note: enter answer with only numerical values and round
up to the nearest tenth. For example, if you think the
answer is "$101.58" then enter the answer "101.6" in the
space below.

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