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The following graph shows the demand curve for a group of consumers in the U.S. market (blue line) for tablets. The market price of
The following graph shows the demand curve for a group of consumers in the U.S. market (blue line) for tablets. The market price of a tablet is shown by the black horlzontal ilne at $70. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Yakov, green (triangle symbols) for Ana, purple (diamond symbols) for Charles, tan (dash symbols) for Dina, and blue (circle symbols) for Gilberto. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $70. (Note: if a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 160 Yakov 140 Ana Yakov 120 100 Charles Ana Market Price Charles Dina Giberto 40 Dina 20 PRICE (Dolars per tablet) Based on the Information on the previous graph, you can tell that will buy tablets at the glven market price, and tatal consumer surplus in this market will be D Suppose the market price of a tablet Increases to $110. On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is wiling and able to purchase a tablet at the new market price: orange (square symbols) for Yakov, green (triangle symbols) for Ana, purple (diamond symbols) for Charles, tan (dash symbols) for Dina, and blue (circle symbols) for Gilberto. (Note: If a person will not purchase a tablet at the new market price, indicate this by lesving his or her rectangle in its original position on the palette.) 10 Yakov 140 Ana Yakov 120 Market Price 100 Charles Ana Charies 60 Dina Gilberto Dina 20 PRICE (Dolars per tablet 180 Yakov 140 Ana Yakov 120 Market Price 100 Charles Ana 60 60 Charles Dina Gilberto 40 Dina 20 7. Gilberto QUANTITY (Tablets) Based on the information in the second graph, when the market price of a tablet increases to $110, the number of consumers willing to buy a tablet to and total consumer surplus to PRICE (Dollars per tablet)
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