Indicate on the graph the area that shows total economic surplus (consumer and producer surplus) at...

  

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Indicate on the graph the area that shows total economic surplus (consumer and producer surplus) at equilibrium. You may draw it in yourself or adjust the blue and green triangles to fit the appropriate spaces on the graph. Change the shape of the triangles by clicking on the corner or rotating. b) If the price is set at $10 a gallon, what will be the quantity demanded of water? c) If the price is set at $10 a gallon, what will be the quantity supplied of water? d) Would this be considered excess supply (surplus) or excess demand (shortage)? Price per gallon of water $16 14 12 10 8 6 NA 4 2 Supply Demand 0 20 40 60 80 100 120 140 160 Gallons of water consumer surplus producer surplus deadweight loss Indicate on the graph the area that shows total economic surplus (consumer and producer surplus) at equilibrium. You may draw it in yourself or adjust the blue and green triangles to fit the appropriate spaces on the graph. Change the shape of the triangles by clicking on the corner or rotating. b) If the price is set at $10 a gallon, what will be the quantity demanded of water? c) If the price is set at $10 a gallon, what will be the quantity supplied of water? d) Would this be considered excess supply (surplus) or excess demand (shortage)? Price per gallon of water $16 14 12 10 8 6 NA 4 2 Supply Demand 0 20 40 60 80 100 120 140 160 Gallons of water consumer surplus producer surplus deadweight loss