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4. 4 points Consider the information given in the table on four consumers in the market for orange juice. Consumer Highest Price Willing to Pay

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4. 4 points Consider the information given in the table on four consumers in the market for orange juice. Consumer Highest Price Willing to Pay Jill $4 Jose $3 Josh $2 Jordan $1 If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is $ (Enter your response rounded to two decimal places.) Suppose the price of a bottle of orange juice rises to $1.50. Once the price of a bottle of orange juice rises to $1.50, the total consumer surplus received by these consumers is $ Enter your response rounded to two decimal places.) If the price of a bottle of orange juice is $0.75, then consumer surplus is an amount equal to the area A. under the demand curve and above the $0.75 price for each individual who buys and consumes orange juice. B. under the demand curve for each individual who buys and consumes orange juice. C. under the demand curve and above the $1.50 price for each individual who buys and consumes orange juice. D. above the demand curve for each individual who buys and consumes orange juice. If the price of a bottle of orange juice is $1.50, then consumer surplus is an amount equal to the area A. under the demand curve and above the $0.75 price for each individual who buys and consumes orange juice. B. under the demand curve and above the $1.50 price for each individual who buys and consumes orange juice. C. under the demand curve for each individual who buys and consumes orange juice. D. above the demand curve for each individual who buys and consumes orange juice. O O W

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