P
24
20 A
16
12
8
1
LI
B
"
4
C
D
F
G H
K
L
M
Supply
Demand
2 4
6
8
10 12 14
16 Q
What is the equilibrium price and quantity?
P of 12 and Q 8
2. Consumer Surplus is equal to the area of
[Select]
3. Producer Surplus is equal to the area of
[Select]
Suppose the government institutes a [tex]$10 tax per unit on
the good assessed against the seller.
4. Supply shifts to the [Select]
by
$[/tex]10 from