The following graph shows Janet's weekly demand for pizza, represented by the blue line. Point A represents a point along her weekly demand. The market price of pizza is $3.00 per slice, as shown by the horizontal black line. Janet's Weekly Demand 7.50 - 5T5 - EDD - 5.25 4.50 - 3.75 - 3 DO PRICE (Dollars per slice) 2.25 - 1.50 - El.T5 - a 2 4 e s 10 12 14 1e 1e 20 QUANTITY {Slices of pizza) From the preceding graph, you can tell that Janet is willing to pay Efor her 8th slice of pizza each week. Since she has to pay only $3.00 per slice, the consumer surplus she gains from the Elth slice of pizza is v . Suppose the price of pizza were to fall to $2.25 per slice. At this lower price, Janet would receive a consumer surplus of v from the 8th slice of pizza she buys. The following graph shows the weekly market demand for pizza in a small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of pizza is $3.00 per slice. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $2.25 per slice. Small Economy's Weekly Demand 7.50 O 3.75 Initial Consumer Surplus (P = $3.00) 6.00 A 5.25 Demand 1.50 Additional Consumer Surplus (P = $2.25) 3.75 PRICE (Dollars per slice) P = $3.00 3.07 2.25 P = $2.25 1.50 0.75 20 40 60 80 100 120 140 180 180 200 QUANTITY (Thousands of slices of pizza)