The following graph plots Kyoko's monthly demand curve (blue line) for grain bowls. The point denoted by A gives a point along her monthly demand curve. The market price of grain bowls is $2.25 per bowl, given by the horizontal black line. (D Kyoko's Monthly Demand 7.50 - 0.75 ' 0.00 ' 5.25 ' 4.50 ' 3.75 ' 3.00 ' PRICE (Dollars per bowl) 2.25 1.50 ' 0.75 ' El- 2 4 s s 10 12 14 1s 1s 20 QUANTITY {grain bowls) From the previous graph, you can tell that Kyoko is willing to pay for her 6th grain bowl each week. Because she has to pay only $2.25 per bowl, the consumer surplus she gains from the 6th grain bowl is . Suppose the price of grain bowls were to fall to $1.50 per bowl. At this lower price, Kyoko would receive a consumer surplus of_ from the 6th grain bowl she buys. The following graph plots the monthly market demand curve (blue line} for grain bowls in a hypothetical small economy. The following graph plots the monthly market demand curve (blue line) for grain bowls in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of grain bowls is $2.25 per bowl. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $1.50 per bowl. Small Economy's Monthly Demand 7.50 O 1.75 Initial Consumer Surplus (P = $2.25) 6.00 A 5.25 4 50 Additional Consumer Surplus (P = $1.50) Demand 3.75 PRICE (Dollars per bowl) 3.00 P = $2.25 2.25 1.50 P = $1.50 0.75 0 20 40 60 80 100 120 140 160 180 200 QUANTITY (Thousands of grain bowls)