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Question 1

The graph below shows the supply and demand curves for beer.

Graphing window shows horizontal axis: 0 to 13, vertical axis: 0 to 13. Start Graph, Color red

xy
01
12
23
34
45
56
67
78
89
910
1011
1112
1213
1314
Start Graph, Color blue
xy
012
17.5
23
3-1.5
4-6
Label "Quantity of beer" at pixel coordinates (175,0).Label "Price of beer" at pixel coordinates (0,170).Label "Demand" at (1,12+1). Label "Supply" at ((13-1)/ 1,11).

What is the size of consumer surplus?

 

 

Hint


Question 2
What is the size of producer surplus?

 

Hint 


Question 3
What is the size of social (total) surplus?

 

Hint