Use the following diagram to calculate total consumer surplus at a price of $12 and production of

Question:

Use the following diagram to calculate total consumer surplus at a price of $12 and production of 500 thousand flu vaccinations per day. For the same equilibrium, calculate total producer surplus. Assuming price remained at $12 but production was cut to 200 thousand vaccinations per day, calculate producer surplus and consumer surplus. Calculate the deadweight loss from underproduction.

24 20 * 16 12 D. O 100 200 300 400 500 600 700 800 900 Thousands of vaccinations per day Price per vaccination (S)