Tammy loves sweets.The table shown reflects the value Tammy places on each sweet she eats:
$$\begin{array} { | l | l | }
\hline \text { Value of first sweet } & 0.60 \
\hline \text { Value of second sweet } & 0.50 \
\hline \text { Value of third sweet } & 0.40 \
\hline \text { Value of fourth sweet } & 0.30 \
\hline \text { Value of fifth sweet } & 0.20 \
\hline \text { Value of sixth sweet } & 0.10 \
\hline
\end{array}$$
a.Use this information to construct Tammy's demand curve for sweets.
b.If the price of sweets is 0.20,how many donuts will Tammy buy?
c.Show Tammy's consumer surplus on your graph.How much consumer surplus would she have at a price of 0.20?
d.If the price of sweets rose to 0.40,how many sweets would she purchase now? What would happen to Tammy's consumer surplus? Show this change on your graph.

Question

Tammy loves sweets.The table shown reflects the value Tammy places on each sweet she eats:
$$\begin{array} { | l | l | } 
\hline \text { Value of first sweet } & 0.60 \
\hline \text { Value of second sweet } & 0.50 \
\hline \text { Value of third sweet } & 0.40 \
\hline \text { Value of fourth sweet } & 0.30 \
\hline \text { Value of fifth sweet } & 0.20 \
\hline \text { Value of sixth sweet } & 0.10 \
\hline
\end{array}$$
a.Use this information to construct Tammy's demand curve for sweets.
b.If the price of sweets is 0.20,how many donuts will Tammy buy?
c.Show Tammy's consumer surplus on your graph.How much consumer surplus would she have at a price of 0.20?
d.If the price of sweets rose to 0.40,how many sweets would she purchase now? What would happen to Tammy's consumer surplus? Show this change on your graph.

Quizplus · Accepted Answer

The Answer of Tammy loves sweets.The table shown reflects the value Tammy places on each sweet she eats:
$$\begin{array} { | l | l | } 
\hline \text { Value of first sweet } & 0.60 \
\hline \text { Value of second sweet } & 0.50 \
\hline \text { Value of third sweet } & 0.40 \
\hline \text { Value of fourth sweet } & 0.30 \
\hline \text { Value of fifth sweet } & 0.20 \
\hline \text { Value of sixth sweet } & 0.10 \
\hline
\end{array}$$
a.Use this information to construct Tammy's demand curve for sweets.
b.If the price of sweets is 0.20,how many donuts will Tammy buy?
c.Show Tammy's consumer surplus on your graph.How much consumer surplus would she have at a price of 0.20?
d.If the price of sweets rose to 0.40,how many sweets would she purchase now? What would happen to Tammy's consumer surplus? Show this change on your graph.

Tammy Loves Sweets AUse This Information to Construct Tammy's Demand Curve for Sweets