Answer:
<h2>$80</h2>
Explanation:
Step one:
What is consumer surplus area?
"Consumer Surplus reflects the difference between what a consumer is willing and able to pay for a product, and what the consumer actually ends up paying.
"
<em>The area of surplus is calculated using the formula for the area of the bounded triangle.</em>
<em>Area of surplus =1/2 b*h</em>
<em>where b= the quantity </em>
<em> h= consumer surplus</em>
Step two:
given data
<em>the quantity </em>of tickets = 4
b=Q-O------------ (from the chart attached)
cost per tieckt= $15
Total cost of 4 tickets= 15*4= $60
the actual price is $60
Since you are willing to pay $25 per ticket
the total amount you are willing to pay is = 25*4= $100
Consumer surplus = y-p------------ (from the chart attached)
Consumer surplus = $100 – $60
Consumer surplus = $40
<em>Area of surplus = </em>1/2 x (4) x40 = $80
Three ways the railroad helped create modern America are: it made travel easier, stimulated commerce in the economy and increased trade.
Americans were happy to not technically lose to the British even though it was a draw
<span>The US Congress adopted a compromise between the New Jersey and Virginia plans that allowed for population-proportional representation in the House of Representatives that favored the Virginia Plan, while adopting equal representation between the states in the Senate, a move which favored the New Jersey Plan.</span>
Explanation:
Just say, "No more slavery." Boom. Problem solved.