Suppose that people consume only three goods, as shown in this table: 2020 Price Quantity 2021 Price Quantity Tennis Balls $2 100 $2 100 Golf Balls $4 100 $6 100 Bottles of Gatorade $2 200 $3 200 Complete the following table by computing the percentage change in price for each of the three goods.

Which of the following will cause a movement when looking at an individual’s demand curve?         Price         The Availability of Alternative Goods     Tastes and Preferences         Changes in income

The following graph shows Hilary's weekly demand for cheesecake, represented by the blue line. Point A represents a point along her weekly demand curve. The market price of cheesecake is $3.00 per slice, as shown by the horizontal black line From the previous graph, you can tell that Hilary is willing to pay $_______ for her 8th slice of cheesecake each week. Because she has to pay only$3.00 per slice, the consumer surplus she gains from the 8th slice of cheesecake is $_______. Suppose the price of cheesecake were to fall to $2.25 per slice. At this lower price, Hilary would receive a consumer surplus of $_______.from the 8th slice of cheesecake she buys.The following graph shows the weekly market demand for cheesecake in a small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of cheesecake is $3.00 per slice. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the…

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