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4. Consumer surplus for an individual and a market The following greph plots Juanite's monthly demand curve (blue line) for burrito bowls. The point denoted

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4. Consumer surplus for an individual and a market The following greph plots Juanite's monthly demand curve (blue line) for burrito bowls. The point denoted by A gives a point along her monthly demand curve. The market orice of burnto bowls is $1.00 per bowl, given by the horizontal black line. From the previous graph, you can tell that Juanita is willing to pay for her 6th burrito bowl each week. Because she has to pay only $1.00 per bowl, the consumer surplus she gains from the 6 th burrito bowl is Suppose the price of burrito bowls were to fall to $0.75 per bowl. At this lower price, Juanita would receive a consumer surplus of from the 6 th burnto bowt she burs. The following graph plots the monthly market demand curve (blue line) for burnto bowls in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price ( P ) of burrito bowls is $1.00 per bowl. Then. use the oreen point (triangle symbol) to shade the ares representing additional consumer surplis when the price falls to s0.75 per bowl. Intial Consuner Surplus (P=$1.00) Additonal Consumer Surplus (P=$0.75)

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