2. Consumer surplus for a group of consumers Aa Aa The following graph shows the demand curve for a group of consumers in the US market for digital cameras. The market price of a digital camera is $125, as shown by the black horizontal line. Each rectangle on the graph corresponds to a particular buyer in this market: orange (square symbols) for Alice, green (triangle symbols) for Bernie, purple (diamond symbols) for Corey, red (cross symbols) for Donyell, and tan (dash symbols) for Elton. Use the rectangles to shade the areas representing consumer surplus for each person who is willing and able to purchase a digital camera at a market price of $125. Note: If a person is either unwilling or unable to purchase a digital camera at the market price, indicate this by leaving his or her rectangle in its original position on the side of the graph. PRICE (Dollars per digital camera) 400 350 300 Alice 250 200 Bernie 150 Corey 100 Donyell Elton 50 Alice Bernie Corey Donyell Elton 0 1 2 3 4 5 6 7 8 QUANTITY (Digital cameras) Help Clear All Based on the information on the graph, you can tell that market price, and total consumer surplus in this market will be will buy digital cameras at the given Suppose the market price of a digital camera changes to $175. On the following graph, use the rectangles once again to shade the areas representing consumer surplus for each person who is willing and able to purchase a digital camera at the new market price: orange (square symbols) for Alice, green (triangle symbols) for Bernie, purple (diamond symbols) for Corey, red (cross symbols) for Donyell, and tan (dash symbols) for Elton. 400 PRICE (Dollars per digital camera) 350 300 Alice 250 Bernie 200 150 100 50 Corey Donyell Elton Alice Bernie Corey Donyell Elton 0 1 2 3 4 5 6 7 QUANTITY (Digital cameras) 8 Help Clear All Based on the graph, if the market price of a digital camera changed to $175, the number of consumers willing to buy a digital camera would and total consumer surplus would to to Attempts: QNA 3.14 2004-2013 Aplia. All rights reserved. Graphs Tool 1.55 2002-2013 Cengage Learning. All rights reserved. 2013 Cengage Learning except as noted. All rights reserved. Grade It Now Save & Continue