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Question 1

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

Graphs with window x: 0 to 13, y: 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
111.17
210.33
39.5
48.67
57.83
67
76.17
85.33
94.5
103.67
112.83
122
131.17
Label "Quantity of bags" at pixel coordinates (175,0).Label "Price of bags" 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