If the product is $8, only 450 units will be exchanged. What is the consumer surplus, producer surplus, total surplus, and deadweight loss? Practice n bneUse the graph below to practice the calculations.Price$24Supply$18$12$8$4Demand4509001,200QuantitytityIf the market is in equilibrium, price is $12 and quantity is 900. Calculate5400001Consumer surplus =dashshed ine%3DtheProducer surplus = 3600i anique eonboy.00.12-0020 Total surplus%3Dphqlonil badab= 000%3DAsIf the product price is $18, only 450 units will be exchanged. CalculateConsumer surplus =z(4s0)(a4-18) =1350aigone%3DProducer surplus ='2 (450) 4)=3150%3DTotal surplus = S00Deadweight loss = | 2450)(-%3DIf the product price is $8, only 450 units will be exchanged. Calculatearh ni'2(450)4-8)= 3600%3Dconsum Consumer surplus =bolle emob.i fidebluow binlonn ovode sinProducer surplus = ' | 2450) (8-4) =900Total surplus =4 500Deadweight loss =

Name: If the product is $8, only 450 units will be exchanged. What is the co
Uploaded: 2022-11-04T13:35:51.000Z
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Description: If the product is $8, only 450 units will be exchanged. What is the consumer surplus, producer surplus, total surplus, and deadweight loss? Practice n bneUse the graph below to practice the calculations.Price$24Supply$18$12$8$4Demand4509001,200Quanti