How consumer surplus relates to values and costs The following graph shows the market for pearl earrings. The downward-sloping (blue) line represents demand, and the upward-sloping (orange) line represents supply. The market is perfectly competitive and currently in equilibrium at a price of $100 per pair. On the graph, use the green point (triangle symbol) to shade in the area representing consumer surplus. Note: Select and drag a fill area point from the palette to the graph. To fill in regions on the graph, merely drop the fill area point on the desired region. CS 0 1 2 3 4 5 6 7 8 9 10 200 180 160 140 120 100 80 60 40 20 0 PRICE (Dollars per pair) QUANTITY (Thousands of pairs of pearl earrings) Area: 180 At a price of $100, all consumers who choose to buy a pair of pearl earrings value them at$100 or more . Given this information, consumer surplus in this market is $60,000 . (Hint: Note the units on the X-axis.) It must be the case that for each firm that produces pearl earrings, themarginal cost of the last pair of pearl earrings produced is $