Use the following information to answer questions 8 through 10:The graph below shows the supply and demand curves for pizza rolls.13+Demand12Suply10-8-7-445 6Quantity of pizza rolls 8 9 10 11 12 138. What is the size of consumer surplus?9. What is the size of producer surplus?10. What is the size of social (total) surplus?Price of pizza rolls

Consumer surplus is the excess of willingness to pay of the buyer over the actual price of the good.…

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8. What is the size of consumer surplus? 9. What is the size of producer surplus?

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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