The Following Graph Shows The Supply Curve For A Group Of Sellers In The U S Market For Laptops Orange Line Each Sel 1 (37.66 KiB) Viewed 15 times
The Following Graph Shows The Supply Curve For A Group Of Sellers In The U S Market For Laptops Orange Line Each Sel 2 (26.83 KiB) Viewed 15 times
The following graph shows the supply curve for a group of sellers in the U.S. market for laptops (orange line). Each seller has only one laptop to sell. The market price of a laptop is shown by the black horizontal line at $175. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for Antonio, green (triangle symbols) for Caroline, purple (diamond symbols) for Dmitri, tan (dash symbols) for Frances, and orange (square symbols) for Jake. (Note: The name labels are to the right of the corresponding segment on the supply curve.) Use the rectangles to shade the areas representing producer surplus for each person who is willing to sell a laptop at a market price of $175. (Note: If a person will not sell a laptop at the market price, indicate this by leaving his or her rectangle in its original position on the palette.) Jake Antonio Caroline Dmitr Frances Jake will sell laptops at the given market price, and total producer 8 350 300 250 200 150 100 50 0 1 QUANTITY (Laptops) Based on the information on the preceding graph, you can tell that surplus in this market will be 5 Suppose the market price of a laptop increases to $275. PRICE (Dollar per laptop) Dmitri Caroline Antonio 2 Frances Market Price 6
On the following graph, use the rectangles once again to shade the areas representing producer surplus for each person who is willing to sell a laptop at the new market price: blue (circle symbols) for Antonio, green (triangle symbols) for Caroline, purple (diamond symbols) for Dmitri, tan (dash symbols) for Frances, and orange (square symbols) for Jake. (Note: If a person will not sell a laptop at the new market price, indicate this by leaving his or her rectangle in its original position on the palette) 400 350 Jake Antonio 300 250 Caroline Dmit 150 100 Frances 50 QUANTITY (Laptops) Based on the information in the second graph, when the market price of a laptop increases to $275, the number of sellers willing to sell a laptop and total producer surplus to PRICE (Dallan per laptop) Dmitri Caroline Antonio Frances Market Price
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