From the previous graph, you can tell that Darnell is willing to pay $_____ for his 8th slice of apple pie each week. Because he has to pay only $1.25 per slice, the consumer surplus he gains from the 8th slice of apple pie is $____.

Suppose the price of apple pie were to fall to $1.00 per slice. At this lower price, Darnell would receive a consumer surplus of $____ from the 8th slice of apple pie he buys.

The following graph shows the weekly market demand for apple pie in a small economy.

 

The following graph shows Darnell's weekly demand for apple pie, represented by the blue line. Point A represents a point along his weekly demand curve. The market price of apple pie is $1.25 per slice, as shown by the horizontal black line. (?) Darnell's Weekly Demand 2.50 Demand 2.25 2.00 1.75 1.50 Price 1.25 1.00 E 0.75 0.50 0.25 4. 6 B 10 12 14 16 18 20 QUANTITY (Slices of apple pie) PRICE (Dollars per slice)