2. Individual demand and consumer surplus Consider the market for electric vehicles. The market price of each electric vehicle is $135,000, and each consumer demands no more than one electric vehicle. Suppose that Gilberto is the only consumer in the electric vehicle market. Their willingness to pay for an electric vehicle is $30,000. Based on Gilberto's willingness to pargrr the following graph shows his demand curve for electric vehicles. Shade the area representing Gr'lberro's consumer surplus using the green rectangle ( triangle symbols). 6') 3-60 3-15 -- Gilberto's Consumer Surplus Gilberto's Demand 270 225 180 Market Price 1 35 PRICE (Thousands Of dollars) 9!] 45 QUANTITY (Electric vehicles) Now, suppose another buyer, Juanita, enters the market for electric vehicles, and her willingness to pay is $180,000. Based on Juanita's and Gilberto's respective willingness to pay, plot the market demand curve on the following graph using the blue points (circle symbol). Next, shade Gilberto's consumer surplus using the green rectangle (triangle symbols), and shade Juanita'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. Line segments will connect the points automatically. 360 O 315 Demand Curve 270 225 Gilberto's Consumer Surplus 180 PRICE (Thousands of dollars) Market Price 135 Juanita's Consumer Surplus 90 45 2 3 4 5 QUANTITY (Electric vehicles)Suppose Lorenzo is willing to pay a total of $90,000 for an electric vehicle. True or False: Keeping his maximum willingness to pay for an electric vehicle in mind, Lorenzo will buy the electric vehicle because it would be worth more to him than its market price of $135,000. O True O False