Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Gilberto, green(triangle symbols) for Juanita, purple (diamond symbols) for Lorenzo, tan (dash symbols) for Neha, and blue (circle symbols) for Sam. Use therectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $120.(Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.)240Gilberto210JuanitaGilberto180Lorenzo150JuanitaMarket Price120NehaLorenzo9060NehaSam3078.Sam1QUANTITY (Tablets)will buy tablets at the given market price, and totalBased on the information on the previous graph, you can tell thatconsumer surplus in this market will be $PRICE (Dollars per tablet) On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able topurchase a tablet at the new market price: orange (square symbols) for Gilberto, green (triangle symbols) for Juanita, purple (diamond symbols) forLorenzo, tan (dash symbols) for Neha, and blue (circle symbols) for Sam. (Note: If a person will not purchase a tablet at the new market price,indicate this by leaving his or her rectangle in its original position on the palette.)240Gilberto210JuanitaGilberta180Lorenzo150Juanita120NehaLorenzo90Market Price60NehaSam3057.8Sam3QUANTITY (Tablets)Based on the information in the second graph, when the market price of a tablet decreases to $60, the number of consumers willing to buy a tabletto $, and total consumer surplustoPRICE (Dollars per tablet)

Answered: Image /qna-images/answer/6ba543e5-0f71-4bab-8961-2c8ec2bd64a1.jpg

Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Gilberto, green (triangle symbols) for Juanita, purple (diamond symbols) for Lorenzo, tan (dash symbols) for Neha, and blue (circle symbols) for Sam. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $120. (Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 240 Gilberto 210 Juanita Gilberto 180 Lorenzo 150 Juanita Market Price 120 Neha Lorenzo 90 60 Neha Sam 30 7 8. Sam 1 QUANTITY (Tablets) will buy tablets at the given market price, and total Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ PRICE (Dollars per tablet)

Each rectangle you can place on the following graph corresponds to a particular buyer in this market: orange (square symbols) for Gilberto, green (triangle symbols) for Juanita, purple (diamond symbols) for Lorenzo, tan (dash symbols) for Neha, and blue (circle symbols) for Sam. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a tablet at a market price of $120. (Note: If a person will not purchase a tablet at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) 240 Gilberto 210 Juanita Gilberto 180 Lorenzo 150 Juanita Market Price 120 Neha Lorenzo 90 60 Neha Sam 30 7 8. Sam 1 QUANTITY (Tablets) will buy tablets at the given market price, and total Based on the information on the previous graph, you can tell that consumer surplus in this market will be $ PRICE (Dollars per tablet)

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 10SQ

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