2. Working with Numbers and Graphs Q2 The following graph shows a demand curve (in blue) and a supply curve (in orange). Suppose a price ceiling of 16 per unit is imposed. Use the green points (triangle symbols) to shade the area representing producers' surplus after the price ceiling. Then use the purple points (diamond symbols) to shade the area representing consumers' surplus after the price ceiling. 27 21 4 6 W 10 12 QUANTITY 14 16 Supply Producers Surplus Consumers Surplus

2. Working with Numbers and Graphs Q2 The following graph shows a demand curve (in blue) and a supply curve (in orange). Suppose a price ceiling of 16 per unit is imposed. Use the green points (triangle symbols) to shade the area representing producers' surplus after the price ceiling. Then use the purple points (diamond symbols) to shade the area representing consumers' surplus after the price ceiling. 27 21 4 6 W 10 12 QUANTITY 14 16 Supply Producers Surplus Consumers Surplus

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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