Answer:
"$2,500" is the appropriate answer.
Explanation:
The question given seems to be incomplete. Below there is a attachment of full question is provided.
The given values are:
Plywood's price,
= $6 per sheet
Price falls,
= $4
Now,
At price $6, the consumer surplus will be:
= [tex]0.5\times 1000\times (10-6)[/tex]
= [tex]0.5\times 1000\times 4[/tex]
= [tex]2,000[/tex] ($)
When price falls, the consumer surplus will be:
= [tex]0.5\times 1500\times (10-4)[/tex]
= [tex]0.5\times 1500\times 6[/tex]
= [tex]4,500[/tex] ($)
Hence,
The increase in consumer surplus will be:
= [tex]4500-2000[/tex]
= [tex]2,500[/tex] ($)
