The following graph plots Antonio's monthly demand curve (blue line) for acai bowls. The point denoted...

  

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The following graph plots Antonio's monthly demand curve (blue line) for acai bowls. The point denoted by A gives a point along his monthly demand curve. The market price of acai bowls is $2.25 per bowl, given by the horizontal black line. PRICE (Dollars per bowl) 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 0 Demand Price 2 + 4 Antonio's Monthly Demand A 6 8 10 12 14 QUANTITY (acai bowls) 16 18 20 From the previous graph, you can tell that Antonio is willing to pay $ bowl, the consumer surplus he gains from the 6th acai bowl is $ ? for his 6th acai bowl each week. Because he has to pay only $2.25 per Suppose the price of acai bowls were to fall to $1.50 per bowl. At this lower price, Antonio would receive a consumer surplus of $ 6th acai bowl he buys. from the The following graph plots the monthly market demand curve (blue line) for acai bowls in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of acai bowls is $2.25 per bowl. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $1.50 per bowl. ? PRICE (Dollars per bowl) 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 0 Demand P = $2.25 P = $1.50 20 Small Economy's Monthly Demand 60 80 100 120 140 160 QUANTITY (Thousands of acai bowls) 40 180 200 Initial Consumer Surplus (P = $2.25) Additional Consumer Surplus (P = $1.50) The following graph plots Antonio's monthly demand curve (blue line) for acai bowls. The point denoted by A gives a point along his monthly demand curve. The market price of acai bowls is $2.25 per bowl, given by the horizontal black line. PRICE (Dollars per bowl) 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 0 Demand Price 2 + 4 Antonio's Monthly Demand A 6 8 10 12 14 QUANTITY (acai bowls) 16 18 20 From the previous graph, you can tell that Antonio is willing to pay $ bowl, the consumer surplus he gains from the 6th acai bowl is $ ? for his 6th acai bowl each week. Because he has to pay only $2.25 per Suppose the price of acai bowls were to fall to $1.50 per bowl. At this lower price, Antonio would receive a consumer surplus of $ 6th acai bowl he buys. from the The following graph plots the monthly market demand curve (blue line) for acai bowls in a hypothetical small economy. Use the purple point (diamond symbol) to shade the area representing consumer surplus when the price (P) of acai bowls is $2.25 per bowl. Then, use the green point (triangle symbol) to shade the area representing additional consumer surplus when the price falls to $1.50 per bowl. ? PRICE (Dollars per bowl) 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 0 Demand P = $2.25 P = $1.50 20 Small Economy's Monthly Demand 60 80 100 120 140 160 QUANTITY (Thousands of acai bowls) 40 180 200 Initial Consumer Surplus (P = $2.25) Additional Consumer Surplus (P = $1.50)

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The provided images display two graphs regarding demand curves for acai bowls Lets analyze them to answer the questions From the first graph we need t... View the full answer