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(Solved): The following graph plots the demand curve (blue line) for several consumers in the market for moto ...




The following graph plots the demand curve (blue line) for several consumers in the market for motor scooters in Meadville, a
Based on the information on the previous graph, you can tell that consumer sumplus in this market will be
will buy motor scoo
for Raphool, tan (dash symbols) for Susan, and blue (cirde symbols) for Alex. (Note: If a person will not purchase a motor sc
The following graph plots the demand curve (blue line) for several consumers in the market for motor scooters in Meadville, a small town located in Pennsylvanis. The Meadville market price of a motor scooter is glven by the horizontal black line at . Each rectangle you can place on the following groph corresponds to a particular buyer in this market: orange (square symbols) for Larry, green (Elangle symbols) for Megan, purple (diamond symbols) for Raphael, tan (dash symbols) for Susan, and blue (circle symbols) for Alex. Use the rectangles to shade the areas represenbing consumer surplus for each person who is wiling and abie to purchase a motor scooter at a market price of \$60. (Note: If a person will not purchase a motor scooter at the market price, indicate this by leaving his or her rectangle in its original position on the paiette.) Based on the information on the previous graph, you can tell that consumer sumplus in this market will be will buy motor scooters at the given market price, and total Suppose the market price of a motor scooter increases to . On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and abie to purchase a motor scooter at the new market price: orange (square symbols) for Lamy, green (triangle symbols) for Megan, purple (diamond symbots) for Raphael, tan (dash symbols) for susan, and blue (circle symbols) for Alex. (Note: If a person will not purchase a motor scooter at the new market. price, indicate this by leaving his or her rectangle in its original position on the palette.) for Raphool, tan (dash symbols) for Susan, and blue (cirde symbols) for Alex. (Note: If a person will not purchase a motor scooter at the new market price, indicate this by leaving his or her rectangle in its original position on the palette.) Based on the information in the second graph, when the market price of a motor scooter increases to , the number of consumers willing to buy a motor scooter to , and total consumer surplus


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