Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green po area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. 350 PRICE (Colars per headset) 315 200 246 210 175 140 105 70 35 0 Demand Supply 0 15 130 195 260 325 390 455 520 585 650 QUANTITY (Millions of headsets) Total surplus in this market is S million. + Equilibrium Consumer Surplus Producer Surplus

Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green po area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. 350 PRICE (Colars per headset) 315 200 246 210 175 140 105 70 35 0 Demand Supply 0 15 130 195 260 325 390 455 520 585 650 QUANTITY (Millions of headsets) Total surplus in this market is S million. + Equilibrium Consumer Surplus Producer Surplus

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 10E

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