Using the graph below calculate the consumer and producer surplus at the competitive equilibrium. Show work.

Maximizing Total Welfare to Society Be sure to show all work. 1. Using the graph below, calculate the consumer and producer surplus at the competitive equilibrium. Price $100 $40 C Quantity O 100 200 a. Consumer Surplus = b. Producer Surplus = c. Total Net Benefit = 2. At a price of $40, consumers will buy 3 bouquets of flowers and suppliers will sell 3 bouquets for Valentine's day. Price Suppliers are Bouquet of Flowers Price Consumers are Willing to Accept Willing to Pay $55