(Solved): 2. Individual demand and consumer surplus Consider the market for electric vehicles. The market pri ...

2. Individual demand and consumer surplus Consider the market for electric vehicles. The market price of each electric vehicle is- $$\$220,000$$, and each consumer demands no more than one. electric vehicle. Suppose that Charles is the only consumer in the electlic vehicle market. Their willingness to pay for an electric vehicle is $$\$385,000$$. Based on Charles's willingness to pay, the following graph shows his demand curve for electric vehicles. Shade the area representing Charles's consumer surplus using the green rectangle (triangle symbols). Now, suppose another buyer, Dina, enters the market for electric vehicles, and her willingness to pay is $$\$330,000$$. Based on Dina's and Charles's respectivo willingness to poy, plot the market demand curve on the following graph using the blue points (circle symbol). Next, shade Charles's consumer surplus using the green rectangle (triangle symbols), and shade Dina's consumer surplus using the purple rectangle (diamond symbols). Note: Plot your points as a step function in the order in which you would like them connected. Lne segments will connect the points automatically, Suppose Giberto is willing to pay a total of $$\$165,000$$ for an electric vehicle. Suppose Gibberto is willing to pay a total of $$\$165,000$$ for an electric vehicle. True or Faise: Keeping his maximum willingness to pay for an electric vehicle in mind, Gilberto will buy the electric vehicie because it would be worth more to him than its market price of $$\$220,000$$. True False: