If the demand for widgets is Qd = 90 - Pd and the supply of widgets is Q = Ps - 30, what is the total surplus created at the equilibrium price? Also, draw the diagram and shade the appropriate area of the diagram.

If the demand for widgets is Qd = 90 - Pd and the supply of widgets is Q = Ps - 30, what is the total surplus created at the equilibrium price? Also, draw the diagram and shade the appropriate area of the diagram.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 11QP

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If the demand for widgets is Qd = 90 - Pd and the supply of widgets is Q, = Ps - 30, what is the total
surplus created at the equilibrium price? Also, draw the diagram and shade the appropriate area of
the diagram.

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