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Question 1

The graph below shows the supply and demand curves for beer. Suppose that the government imposes a Price Ceiling of 5

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

xy
04
15
26
37
48
59
610
711
812
913
1014
1115
1216
1317
Start Graph, Color blue
xy
08
17
26
35
44
53
62
71
80
9-1
10-2
11-3
12-4
13-5
Start Graph, Color black
xy
05
15
25
35
45
55
65
75
85
95
105
115
125
135
Label "Quantity of beer" at pixel coordinates (175,0).Label "Price of beer" at pixel coordinates (0,170).Label "Demand" at (1,8+1). Label "Supply" at ((13-4)/ 1,11). Label "Price Ceiling" at (11,5).

What is the size of the consumer surplus?

$  

 

Hint


Question 2
What is the size of producer surplus?

$  

 

Hint


Question 3
What is the size of deadweight loss?

$  

Hint 


Question 4
What is the size of social (total) surplus?

$  

Hint