The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol) to indicate the equilibrium price and quantity of polaroid cameras. 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 camera) 400 360 320 280 240 200 160 120 80 40 0 Demand Supply 0 85 170 255 340 425 510 595 680 765 850 QUANTITY (Millions of cameras) Total surplus in this market is $ million. Equilibrium A Consumer Surplus Producer Surplus

The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol) to indicate the equilibrium price and quantity of polaroid cameras. 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 camera) 400 360 320 280 240 200 160 120 80 40 0 Demand Supply 0 85 170 255 340 425 510 595 680 765 850 QUANTITY (Millions of cameras) Total surplus in this market is $ million. Equilibrium A 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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