1. Here is the demand for coconuts:
P 3 4 5 6 7 8 9 11 13 16 20
QD 1100 1000 900 800 700 600 500 400 300 200 100
And here is supply
P 3 4 5 6 7 8 9 10 11 12 13
QS 100 200 300 400 500 600 700 800 900 1000 1100
Identify the equilibrium price, quantity, consumer and producer surplus and show them on a graph. The graph should be pretty simple here, the main issue is finding the numbers for consumer and producer surplus. Again, let me reiterate: I WANT NUMBERS FOR CONSUMER AND PRODUCER SURPLUS! Furthermore, I want you to do this the way that I do. In other words, calculate it like it's a bunch of rectangles. Don't do the triangle thing that they do in the videos. (Notice that I made it so one of them isn't a triangle.) Also, when doing this keep in mind that the width of these rectangles will not be 1 so be careful. (What is it....? )
NOTICE: CONSUMER SURPLUS IS NOT A TRIANGLE!
CAN YOU PLEASE DRAW THE GRAPH AS MUCH DETAIL AS YOU CAN PLEASE!
