Mathematics, 20.02.2022 14:20 famouzgal

(3) Assume the market price for lemon grass is $4.00 per pound, but most buyers are willing to pay more than the market price. At the market price of $4.00, the quantity of lemon grass demanded
is 1,500 pounds per month, and quantity demanded does not reach zero until the price reaches
$30.00 per pound. Construct a graph showing this data, calculate the total consumer surplus in the
market for lemon grass, and show the consumer surplus on the graph. Your demand curve should
be a straight line.

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(3) Assume the market price for lemon grass is $4.00 per pound, but most buyers are willing to pay...