Explain all option plz......you will not explain all option then I will give you down upvote... =Refer to the figure at right. The value of consumer surplus when price is $4 equalsPrice(dollars per 10OOOOA. $45.B. $24.C. $21.D. none of the above.cone)48-76Consumer Surplus6Ice cream cones

Detailed explanation: Consumer Surplus Calculation RecapFrom the graph, the consumer surplus is…

Answered: = Refer to the figure at right. The…

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 2WNG

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What is the relationship between total surplus and economic efficiency?
What is consumer surplus? How is it illustrated on a demand and supply diagram?
Kyra buys an iPhone for $240 and gets consumersurplus of $160.a. What is her willingness to pay?b. If she had bought the iPhone on sale for $180,what would her consumer surplus have been?c. If the price of an iPhone were $500, what wouldher consumer surplus have been?
Total surplus is maximized at the equilibriumprice and quantity. When demand increases,price increases. Explain how total surplus is stillmaximized if price increases due to an increase indemand
A. Diagram 2- Which of the following area (A-C, select 1), represents the additional surplus fromthe original sellers as a results of priceincreasing from P1 to P2? B. Diagram 2- Which of the following area (A-C, select 1), represents the additional surplus fromthe new sellers as a results of priceincreasing from P1 to P2?
Refer to the figure at right showing the market for nuts. The loss of consumer surplus associated with the tariff shown will be $ (Round your response to the nearest dollar.) Price of Nuts ($) Pw+t Md 40 31 Market for Nuts C D A B 6 15 26 38 Quantity of Nuts (thousand units) S Tarif D
Naisa buys an iPhone for $240 and gets consumer surplus of $160.a. What is her willingness to pay?b. If she had bought the iPhone on sale for $180, what would her consumer surplushave been?c. If the price of an iPhone were $500, what would her consumer surplus have been? Answer must be correct.Show step by stepcalculation.
A. Diagram 1- Which of the following area (A-F, select 1), represents the additional surplus fromnew consumers as a results of pricedecreasing from P1 to P2? B. Diagram 1- Which of the following area (A-F, select 1), represents the additional surplus fromthe original consumers as a results of price decreasing from P1 to P2?
If the demand curve for chocolate bars is downward sloping and the supply of it decreases, there is __ in consumer surplus; a. an increase, b. no change, c. it's impossible to tell what will happen to consumer surplus, d. a decrease
QUESTION 5 Using the table below, calculate total consumer surplus for Beanie, Mitch, and Frank if the price of the textbook is $110. TABLE 6.1 Willingness to Pay for a New Economics Textbook Buyer Willingness to pay Beanie $200 Mitch $150 Frank $100 Cick to view grachic. O $90 O $40 O$130 $120 Click Sae and Submit to nd
a. Draw a supply-demand graph in the market for milk. Indicate equilibrium price and equilibrium quantity. b) in the same graph, indicate a price at which there is a surplus of milk. Show the surplus of milk in your graph.
surplus is the difference between the maximum price a consumer is (or consumers are) willing to pay for a product and the actual [market] price. A. Producer B. Consumer C. None

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= Refer to the figure at right. The value of consumer surplus when price is $4 equals Price (dollars per 10 OOOO A. $45. B. $24. C. $21. D. none of the above. cone) 4 8- 7 6 Consumer Surplus 6 Ice cream cones