The figure below shows Arnold's demand curve for burritos. Price (dollars per burrito) $2.50 $7.00 $3.00 $2.00 $1.00 2.00 1.50 1.00 Quantity (burritos) If the market price is $1.00, what is Arnold's consumer surplus? 2 4 Demand
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- Based on this graph,Calculate the consumer surplus from 500 pairs of shoes?The graph shows the demand curve and the supply curve in the market for newpapers. Draw a horizontal line at a price at which there is a surplus of newpapers. Label it Surplus.What are the factors that caused the consumer surplus?
- The table below represents the market for DVDS. The value of consumer surplus is $__________milon (Enter your reaponse as an integer)Using the following information, explain the changes in consumer surplus in the sushi market withdiagrams.a. The price of sushi decreases.b. People are less willing to pay for sushi.The attached figure shows Rosa's demand for ice cream. If the price of ice cream were $2 per litre, then Rosa's consumer surplus for the 4th litre: (a) Is greater than the surplus for the 8th litre. b) Is the same as the surplus on the 8th litre. c) Is less than the surplus on the 8th litre d) It could be greater than, equal to or less than the surplus of the 8th litre. Note: Please make your calculations to get the correct answer
- What is consumer surplusFor each scenario, decide whether it results in a producer or consumer surplus. Then calculate the resulting surplus. Alice is willing to spend $30$30 on a pair of jeans and has a coupon for $10$10 off. She purchases a pair of jeans that costs $35$35 pre-discount. Alice receives a Alice's surplus: $ Jeff finds steak in the supermarket priced at$16$16 but that he would have been willing to pay $20$20 for. The butcher notices the meat is near the expiration date and gives him an extra 7575% off. Jeff receives a producer surplus. consumer surplus. Jeff's surplus: $ Nicole has a hockey puck from the 2018 Winter Olympic Games and puts it up for sale on eBay. She will only sell the puck if the winning bid is greater than or equal to $500$500. After the bidding closes, the last bid stands at $501$501. Nicole receives a Nicole's surplus: $Calculate the economic surplus in the market represented by the graph.
- Marcus buys a tablet for $5,000. What determines the size of consumer surplus Marcus receives? Explain.The table shows the demand and supply schedules for tacostacos. If the quantity demanded of tacos decreases by 400 per hour at each price, the new price of a taco is $2.00. Total surplus decreases by $_____?. Price (dollars per taco) Quantity demanded Quantity supplied (tacostacos per hour) 0 800 0 1.00 700 100 2.00 600 200 3.00 500 300 4.00 400 400 5.00 300 500 6.00 200 600 7.00 100 700 8.00 0 800 Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.What is surplus