Last year the average price for an airline ticket was $400, but the average price dropped to $350 this year due to a decrease in the demand for airplane travel. The accompanying table contains information on the supply of air travel. Airfare (price per ticket) Quantity supplied (millions of seats) $0     0 $175     350 $350     700 $400     800 $575     1,150    $750     1,500    Draw the supply curve and use it to calculate producer surplus last year and producer surplus this year. How did producer surplus change?

Q: PRICE($) Demand QUANTITY Supply

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