8. Total economic surplus The following graph plots the supply and demand curves in the market for VR headsets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset 400 380 280 240 200 160 120 80 40 0 0 Demand Supply 75 150 225 300 375 450 525 800 8.75 750 QUANTITY (Millions of headsets) Total surplus in this market is $160,000 million. Equilibrium Consumer Surplus ◇ Producer Surplus

8. Total economic surplus The following graph plots the supply and demand curves in the market for VR headsets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset 400 380 280 240 200 160 120 80 40 0 0 Demand Supply 75 150 225 300 375 450 525 800 8.75 750 QUANTITY (Millions of headsets) Total surplus in this market is $160,000 million. Equilibrium Consumer Surplus ◇ Producer 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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Refer to Question 4b. The producer surplus for theater movies is $_____. Do not forget to round to two decimal places, input the decimal point and two places to the right of the decimal point, and place a comma, if needed.
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