It is a hot day, and Jake is thirsty. Here is the value he places on a bottle of water:Value of first bottle:$8Value of second bottle: $6Value of third bottle:$4Value of fourth bottle: $2From this information, complete the following table by deriving Jake''s demand schedule.PriceQuantity DemandedMore than $8$6.01 to $8$4.01 to $6$2.01 to $4$2 or fewer Based on Jake's willingness to pay, plot Jake's demand curve as a step function on the following graph using blue points (arcle symbol) beginning at aquantity of 0 bottles of water.10Jake's DemandPrice = $5Quantity Purchased3.Consumer Surplus2113Quantity of WaterSuppose the price of a bottle of water is $5.Use the black line (plus symbol) to draw a price line at $5. Next use the grey point (star symbol) to indicate how many bottles of water Jake will buyat that price. Finally, use the green point (triangle symbol) to shade the area that represents Jake's consumer surplus from his purchases.In this case, Jake receives Sin consumer surplus from his water purchase.If the price falls to $2, Jake now buysbottles of water. Thishis consumer surplus to SPrice of Water

Based on Jake's willingness to pay, plot Jake's demand curve as a step function on the following graph using blue points (circle symbol) begl NU JI quantity of 0 bottles of water. 10 Jake's Demand Price = $5 Quantity Purchased Consumer Surplus 4 Quantity of Water Suppose the price of a bottle of water is $5. Use the black line (plus symbol) to draw a price line at $5. Next use the grey point (star symbol) to indicate how many bottles of water Jake will buy at that price. Finally, use the green point (triangle symbol) to shade the area that represents Jake's consumer surplus from his purchases. In this case, Jake receives S in consumer surplus from his water purchase. Price of Water