(Solved) The price of rice in a small country is currently $6 per pound. In order to help low-income people ...

s.h_math

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A year ago

The price of rice in a small country is currently $6 per pound. In order to help low-income people ...

Hey,

I needed help solving how much the surplus increases I’m not sure how to get that. Is it possible if you could show some calculations?

Thank you

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Anonymous

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A year ago

Hi s.h_math

What textbook is your course using?

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s.h_math Author

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A year ago Edited: A year ago, bio_man

I’m sorry, I forgot to attach image.

The price of rice in a small country is currently $6 per
pound. In order to help low-income people afford an
adequate diet, the government introduces a subsidy of
$2 per pound of rice.
Using the graph on the right, show the area representing
the increase in consumer surplus as a result of the
subsidy. Assume that the full amount of the subsidy is
passed on to consumers.
TO do this you must create a single area by combining two
shapes obtained as follows:
1. ) Using the rectangle drawing tool, draw a portion Of the
desired area.
2.) using the triangle drawing tool, draw the second
portion of the desired area.
Carefully follow the instructions above and only draw the
required objects.
According to the graph, consumer surplus increases by
as a result of the subsidy.

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bio_man

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Educator

A year ago

s.h_math One small request... Is it possible to copy-paste the question, and also include a screenshot as you normally do?

Anyway, here's the answer. Let me know if that helps...

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s.h_math Author

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A year ago Edited: A year ago, s.h_math

I’m sorry about this, my question was for the second question that’s the answer I didn’t get. Ik how to find surplus.

Question:According to the graph the consumer surplus increases by $___ as a result of subsidy

Post Merge: A year ago

Would it be 10?

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bio_man

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Educator

A year ago

Not sure yet, what textbook is being used?

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s.h_math Author

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A year ago

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bio_man

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s.h_math Author

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A year ago

"You have exceeded your daily download limit of 5 files per day." I didn't even open so many download, that's so weird bio man.

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bio_man

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Educator

A year ago

Quote from: s.h_math (A year ago)

"You have exceeded your daily download limit of 5 files per day." I didn't even open so many download, that's so weird bio man.

I got 50 as my answer.

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s.h_math Author

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#10

A year ago

Answer is correct biome! but no clue how you got it Frowning Face

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bio_man

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#11

Educator

A year ago

Thank goodness, because economics isn't my strong point Grinning Face with Smiling Eyes

I updated my reply Upwards Arrow

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s.h_math Author

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#12

A year ago

Thanks a lot bioman, if really helps me understand. Hey, you still help me so much and figure out the right answer. Then I take note of what I have trouble with and study it properly.

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bio_man

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#13

Educator

A year ago

Quote from: s.h_math (A year ago)

Thanks a lot bioman, if really helps me understand. Hey, you still help me so much and figure out the right answer. Then I take note of what I have trouble with and study it properly.

Any further questions, feel free to post Slight Smile

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