1. Price $152 $144 $136 $128 $120 $112 $104 $96 $88 $80 $72 564 $56 $48 $40 $32 524 $16 $8 SO 0 25 50 75 100 125 150 - - Supply 175 200 Quantity 225 250 Demand A. Calculate consumer surplus at the equilibrium price and quantity B. Calculate producer surplus at the equilibrium price and quantity D. Calculate total surplus at the equilibrium price and quantity D. Shade the area of the graph that corresponds to total surplus 275 300 325 350 375

1. Price $152 $144 $136 $128 $120 $112 $104 $96 $88 $80 $72 564 $56 $48 $40 $32 524 $16 $8 SO 0 25 50 75 100 125 150 - - Supply 175 200 Quantity 225 250 Demand A. Calculate consumer surplus at the equilibrium price and quantity B. Calculate producer surplus at the equilibrium price and quantity D. Calculate total surplus at the equilibrium price and quantity D. Shade the area of the graph that corresponds to total surplus 275 300 325 350 375

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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