Suppose demand and supply for services of surgeons in Australia each day are given below, where demand and supply are expressed in terms of number of services per day, and P = price per service Qd=2000−2P Qs=3P What area(s) comprise the consumer surplus after the implementation of the production quota? (select all relevant areas)

a) A

b) B

c) C

d) E

e) D

f) F

Transcribed Image Text:

P₁ = 500 Po = 400 333 P A B D F Squota I 1 Qi C E lö = 1000 = 1200 S P₁ = 500 Po = 400 333 P A B D F Squota I 1 Qi C E lö = 1000 = 1200 S

Answer rating: 100% (QA)

Question Optionaarea A Explanation Consumers surplus CS is the dif... View the full answer