(a) Estimate the equilibrium price and quantity for the supply and demand curves in Figure 6.42.
(b) Estimate the consumer and producer surplus.
(c) The price is set artificially low at p⁻ = 4 dollars per unit. Estimate the consumer and producer surplus at this price. Compare your answers to the consumer and producer surplus at the equilibrium price.

p($/unit) 12 8 4 200 400 600 800 Figure 6.42 S D 1000 q (quantity)