Question: (a) What are the equilibrium price and quantity for the supply and demand curves in Figure 6.39? (b) Shade the areas representing the consumer and

(a) What are the equilibrium price and quantity for the supply and demand curves in Figure 6.39?

(b) Shade the areas representing the consumer and producer surplus and estimate them.

p($/unit) 100 80 60 40 20 5000 Figure 6.39 _D S q

p($/unit) 100 80 60 40 20 5000 Figure 6.39 _D S q (quantity) 10,000

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