Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. 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. 150 Demand 135 Equilibrium 120 105 Consumer Surplus 90 75 Producer Surplus 60 30 15 Supply + 140 175 210 245 280 315 350 35 70 105 QUANTITY (Millions of tablets) million. Total surplus in this market is $ PRICE (Dollars per tablet)

Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. 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. 150 Demand 135 Equilibrium 120 105 Consumer Surplus 90 75 Producer Surplus 60 30 15 Supply + 140 175 210 245 280 315 350 35 70 105 QUANTITY (Millions of tablets) million. Total surplus in this market is $ PRICE (Dollars per tablet)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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