On the following graph, use the black point (cross symbol) to indicate the equilibrium price and quantity of computer keyboards. 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. Hint: Clicking a shaded area, after plotting it on the graph, will show you the total area of the shaded region. The Supply and Demand for Computer Keyboards Demand Equilibrium A Consumer Surplus ◇ Producer Surplus PRICE (Dollars per keyboard) 300 270 240 210 160 150 120 90 60 30 0 Supply 0 10 20 30 60 50 40 60 70 QUANTITY (Keyboards) Total net benefit (or total surplus) in this market is s 90 100

On the following graph, use the black point (cross symbol) to indicate the equilibrium price and quantity of computer keyboards. 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. Hint: Clicking a shaded area, after plotting it on the graph, will show you the total area of the shaded region. The Supply and Demand for Computer Keyboards Demand Equilibrium A Consumer Surplus ◇ Producer Surplus PRICE (Dollars per keyboard) 300 270 240 210 160 150 120 90 60 30 0 Supply 0 10 20 30 60 50 40 60 70 QUANTITY (Keyboards) Total net benefit (or total surplus) in this market is s 90 100

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 4DQ

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