The following diagram shows supply and demand in the market for laptops. Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. 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. 300 270 Demand Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 Supply 30 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of laptops) Total surplus in this market isS million. PRICE (Dollars per laptop)

The following diagram shows supply and demand in the market for laptops. Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. 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. 300 270 Demand Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 Supply 30 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of laptops) Total surplus in this market isS million. PRICE (Dollars per laptop)

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 23EQ: 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes...

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