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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 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 6.75 Initial Consumer Surplus (P = $2.25) 6.0 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 20 40 60 80 100 120 140 160 180 200 QUANTITY (Thousands of grain bowls)
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