Question: i really need help graphing and labeling things please can you help me out?? NORTH ALLEGHENY SCHOOL DISTRICT NA Gavin IT1705139 Owens Section Il 1.

i really need help graphing and labeling things please can you help me out??

i really need help graphing and labeling things please can you help

NORTH ALLEGHENY SCHOOL DISTRICT NA Gavin IT1705139 Owens Section Il 1. Assume that the market for apartments in Manhattan is perfectly competitive and in equilibrium (free market). a) Draw a correctly labeled graph of supply and demand to show each of the following. i) The equilibrium price and quantity, labeled as Pe and Qe, respectively. ii) The area representing consumer surplus, labeled as CS market to iii) The area representing producer surplus, labeled as PS b) Then suppose the government imposes a price ceiling. Add/Draw the price ceiling line to your graph from part (a), and label it P2. Completely shade the area representing the sum of the consumer surplus and the producer surplus after inserting the price ceiling. Shade Dead Weight Loss (DWL) wedge in as well. i) Using Qd and Qs, explain whether there's a surplus or shortage of apartments

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