please draw carefully otherwise i give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The graph shows the demand curve for wallets and the market price of a wallet.Price (dollars per wallet)18.00-What is the consumer surplus on wallets?What is the total expenditure on wallets?What is the total benefit of wallets?16.00-14.00-12.00-Marketprice10.00-Draw a point that shows the quantity of wallets bought and the price paid.8.00-Draw a shape that represents the consumer surplus.Label it CS.6.00-4.00-DDraw a shape that represents total expenditure.Label it TE.2.00-0.00-01530 45 60 75Quantity (wallets per day)90105>>> Draw only the objects specified in the question.

Consumer surplus is an economic measurement of consumer benefits resulting from market competition.…

The graph shows the demand curve for wallets and the market price of a wallet. What is the consumer surplus on wallets? What is the total expenditure on wallets? What is the total benefit of wallets? Draw a point that shows the quantity of wallets bought and the price paid. Draw a shape that represents the consumer surplus. Label it CS Draw a shape that represents total expenditure. Label it TE. 18.00- 16.00- 14.00- 12.00- 10.00- 8.00- 6.00- 4.00- 2.00- Price (dollars per wallet) Market price D 0.00+ 15 30 45 60 75 Quantity (wallets per day) 90 105 >>> Draw only the objects specified in the question. G

The graph shows the demand curve for wallets and the market price of a wallet. What is the consumer surplus on wallets? What is the total expenditure on wallets? What is the total benefit of wallets? Draw a point that shows the quantity of wallets bought and the price paid. Draw a shape that represents the consumer surplus. Label it CS Draw a shape that represents total expenditure. Label it TE. 18.00- 16.00- 14.00- 12.00- 10.00- 8.00- 6.00- 4.00- 2.00- Price (dollars per wallet) Market price D 0.00+ 15 30 45 60 75 Quantity (wallets per day) 90 105 >>> Draw only the objects specified in the question. G

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section: Chapter Questions

Problem 20QP

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