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resolve and explain please Consumer Surplus Use the graph to answer the questions below [not drawn to scale]: Price (2) 35 23.33 K 6 10

resolve and explain please

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Consumer Surplus Use the graph to answer the questions below [not drawn to scale]: Price (2) 35 23.33 K 6 10 Quantity sold ('0005} put. 1 . Consumer surplus is the total value of the which consumers receive over and above what they pay for a good. 2. (a) What is the total value of consumer surplus at a price of 223.33? (b) How much consumer surplus is gained (+) or lost (n) if the price rises from 23.33 to 28? 3. If the price is 23.33, how much consumer surplus does: (a) the most highly-valued item sold yield? (b) the 6,000th most highly-valued item yield? to) the 10,000th most highly-valued item yield? 4. If the price is 28, how much consumer surplus does: (a) the most highly-valued item sold yield? (b) the 6,000111 most highlyvalued item yield? (c) the 10.00001 most highly-valued item yield? 5. Is it possible for consumer surplus to be zero? If so sketch the graph of such a situation

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