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On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to
On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to purchase a bluetooth speaker at the new market price: orange (square symbols) for Tim, green (triangle symbols) for Alyssa, purple (diamond symbols) for Brian, tan (dash symbols) for Crystal, and blue (circle symbols) for Edison. (Note: If a person will not purchase a bluetooth speaker at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) 480 Tim 420 Tim Alyssa 360 Market Price 300 Alyssa Brian 240 PRICE (Dollars per bluetooth speaker) Brian 180 Crystal 120 Crystal Edison 5 7 Edison QUANTITY (Bluetooth speakers) Based on the information in the second graph, when the market price of a bluetooth speaker increases to $300, the number of consumers willing to buy a bluetooth speaker to , and total consumer surplus to $3. Consumer surplus for a group of consumers The following graph plots the demand curve (blue line) for several consumers in the market for bluetooth speakers in Meade, a small town located in Kansas. The Meade market price of a bluetooth speaker is given by the horizontal black line at $180. Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Tim, green (triangle symbols) for Alyssa, purple (diamond symbols) for Brian, tan (dash symbols) for Crystal, and blue (circle symbols) for Edison. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a bluetooth speaker at a market price of $180. (Note: If a person will not purchase a bluetooth speaker at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 480 Tim 420 Tim Alyssa 360 300 Alyssa Brian 240 PRICE (Dollars per bluetooth speaker) Market Price Brian 180 Crystal 120 Crystal 50 Edison 5 6 a Edison QUANTITY (Bluetooth speakers) Based on the information on the previous graph, you can tell that will buy bluetooth speakers at the given market price, and total consumer surplus in this market will be $ Suppose the market price of a bluetooth speaker increases to $300
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