Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. ? PRICE (Dollars per scooter) 350 315 280 245 210 175 140 105 70 35 0 0 Demand Supply + 55 110 165 220 275 330 385 440 495 550 QUANTITY (Millions of scooters) Total surplus in this market is $ million. + Equilibrium A Consumer Surplus Producer Surplus

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Chapter1: Making Economics Decisions
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Homework (Ch 07)
me Tonowing graph plots the supply and demand curves in the market for motor scooters.
Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill
the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus.
PRICE (Dollars per scooter)
350
315
280
245
210
175
140
105
70
35
0
0
Demand
Supply
55
110 165 220 275 330 385 440
QUANTITY (Millions of scooters)
Total surplus in this market is $
발
H
a
495
Р
550
million.
+
Equilibrium
Consumer Surplus
Producer Surplus
?
O
49°F
I
Q Search this course
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10/17/2023
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A+
Transcribed Image Text:• LO >> de MindTap - Cengage Learning X + B Marvin ✓ My Home Courses ✰ng.cengage.com/static/nb/ui/evo/index.html?elSBN=9780357133606&id=1834966692&snapshotld=3545333& ? Help Catalog and Study Tools Rental Options College Success Tips Career Success Tips « Give Feedback Type here to search CENGAGE MINDTAP Homework (Ch 07) me Tonowing graph plots the supply and demand curves in the market for motor scooters. Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per scooter) 350 315 280 245 210 175 140 105 70 35 0 0 Demand Supply 55 110 165 220 275 330 385 440 QUANTITY (Millions of scooters) Total surplus in this market is $ 발 H a 495 Р 550 million. + Equilibrium Consumer Surplus Producer Surplus ? O 49°F I Q Search this course X 6:38 AM 10/17/2023 X ⠀ ? A-Z bongo A+
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Marvin ✓
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CENGAGE MINDTAP
Homework (Ch 07)
8. Total economic surplus
The following graph plots the supply and demand curves in the market for motor scooters.
Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill
the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus.
PRICE (Dollars per scooter)
350
315
280
245
210
175
140
105
70
35
0
Demand
Supply
+
0 55 110 165 220 275 330 385 440 495 550
QUANTITY (Millions of scooters)
100
H
a
Р
Equilibrium
Consumer Surplus
◇
Producer Surplus
C
49°F
I
Q Search this course
X
6:38 AM
10/17/2023
X
⠀
?
A-Z
bongo
A+
O
Transcribed Image Text:• LO >> de MindTap - Cengage Learning X + B Marvin ✓ My Home Courses ✰ng.cengage.com/static/nb/ui/evo/index.html?elSBN=9780357133606&id=1834966692&snapshotld=3545333& Catalog and Study Tools Rental Options ? Help College Success Tips Career Success Tips Give Feedback Type here to search CENGAGE MINDTAP Homework (Ch 07) 8. Total economic surplus The following graph plots the supply and demand curves in the market for motor scooters. Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per scooter) 350 315 280 245 210 175 140 105 70 35 0 Demand Supply + 0 55 110 165 220 275 330 385 440 495 550 QUANTITY (Millions of scooters) 100 H a Р Equilibrium Consumer Surplus ◇ Producer Surplus C 49°F I Q Search this course X 6:38 AM 10/17/2023 X ⠀ ? A-Z bongo A+ O
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