Draw (physically or on an online program) a S&D graph with the MC and DMU (WTP) curves
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Question:
Draw (physically or on an online program) a S&D graph with the MC and DMU (WTP) curves demonstrating the equilibrium
- label the axes and identify E, Qp and Qe
- draw (physically or on an online program) an S&D graph with a price ceiling
- identify Qp, Qe, Qs, Qd, and the ceiling price
- label axes
- include a title of the graph
- draw (physically or on an online program) an S&D graph with a price floor
- identify Qp, Qe, Qs, Qd, and the floor price
- label axes
- include a title of the graph
- draw (physically or on an online program) an S&D graph where D=P=MR and price is fixed
- label everything and title the graph "Competitive Market in the Long Run"
- explain: what would cause Qe to change?
- lastly, draw (physically or on an online program) an S & D graph and show consumer surplus and producer surplus
- shade or color CS using a different pattern/color for PS
- write "CS" in the shape for consumer surplus and write "PS" in the shape for producer surplus
- label Qe and Pe, label axes, and title the graph "Total Surplus"
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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