D.) Now, according to this graph, how much is the consumer surplus when price is set below the equilibrium level at P=$5? (Use the area of a triangle and the area of a rectangle, length x length) E.) According to this graph, how much is the producer surplus when price is equal at P= $5? (use the area of triangle: Base x Height x 1⁄2) F.)In the graph, how much is deadweight loss at a price of $5? (use the area of a triangle) please show calculations so I know how to arrive at those numbers!
D.) Now, according to this graph, how much is the consumer surplus when price is set below the equilibrium level at P=$5? (Use the area of a triangle and the area of a rectangle, length x length) E.) According to this graph, how much is the producer surplus when price is equal at P= $5? (use the area of triangle: Base x Height x 1⁄2) F.)In the graph, how much is deadweight loss at a price of $5? (use the area of a triangle) please show calculations so I know how to arrive at those numbers!
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Show all work please thanks
D.) Now, according to this graph, how much is the consumer surplus when price is set below the equilibrium level at P=$5? (Use the area of a triangle and the area of a rectangle, length x length)
E.) According to this graph, how much is the producer surplus when price is equal at P= $5? (use the area of triangle: Base x Height x 1⁄2)
F.)In the graph, how much is deadweight loss at a price of $5? (use the area of a triangle)
please show calculations so I know how to arrive at those numbers!
Thank you
Transcribed Image Text:According to the following Figure, please answer a-f:
P
I
16
12
8
2
20
40
60
S
D
Q
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