Problem set 4 Consumer and producer surplus B Open the following in a SEPARATE window as you will use the graph to answer the questions below. httEWcourses.cscc.edufbbcswebdavfidd~421?8223 1 Use sliders to change the position of the "Demand Line" or the "Supply Point A." Drag the "Supply Point B" anywhere to change supply's slope. 1. First Position the demand using the slide so its endpoints are (0, 40 and 40,0}. 2. Now click on supply point B red dot so it rests on a quantity of 40 at a P =40 And the origin {0.0) 3. The equilibrium price is? $ 4. The equilibrium quantity is 5. Consumer surplus at this equilibrium is equal to $ 6. Producer surplus at this equilibrium is equal to $ 3'. Place a price ceiling at a prioe of $10. 539 How many units will he purchased at the price ceiling of $10? The consumer surplus after the implementation of the price ceiling has now become 1; 10. There has been ain) (increase, decrease} of consumer surplus of $ 11. Producer surplus after the implementation of the price ceiling has become $ 12. There has been ain) (increase, decrease} of producer surplus of $ 13. Social surplus after the implementation of the price ceiling is $ 14. The dead weight loss of the price ceiling is $ . 5