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Demand Curve & Consumer Surplus. Dv SValue 010 20 30 40 50 6|) 70 30 90 ad Use Demand Curve graph for Golden Retrievers, shown
Demand Curve & Consumer Surplus. Dv SValue 010 20 30 40 50 6|) 70 30 90 ad Use Demand Curve graph for Golden Retrievers, shown above, to answer Questions 1. - 4. Assume the Price for Puppies is $ 200. What is the buyer's optimal (best) quantity demanded, Qd? What Area shows buyer's net gain or 'Consumer Surplus'? WhatArea shows buyer's Total DollarValue (Total Willingness to Pay)? PWN!' What Area shows buyer's Total Expenditures (spending on good)? 5. Number example of Consumer Surplus: Jacob is willing to spend $100, maximum, for Drake concert tickets. The Price for a ticket is $98. What is his \"Consumer Surplus\" or 'net gain' measured in dollars, from buying the ticket? (3 pts) 6. Write a short example showing the Law of Demand (also called "Law of Diminishing Value or Marginal Utility"). Must be your own writing and a unique exampl_e (no plagiarism). See Lesson 8 for examples of how it should look
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