Lumen OHM Assessment

Enable text based alternatives for graph display and drawing entry

Try another version of this question

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

Consumer, producer and total surpluses with no government price controls:

What is the size of consumer surplus when there are no government price controls?

`$`

What is the size of producer surplus when there is no government price control?

`$`

What is the size of the social surplus when there is no government price control?

`$`

What is the size of the deadweight loss when there is no government price control?

`$`

Consumer, producer and total surpluse with a binding Price Floor:

What is the size of the consumer surplus when a Price Floor of $8 is imposed?

`$`

Consumer, producer and total surpluses with a binding Price Floor:

What is the size of the producer surplus when a Price Floor of `$8` is imposed?

`$`

Consumer, producer and total surpluses with a binding Price Floor:

What is the size of deadweight loss from a Price Floor of `$8`?

`$`

Consumer, producer and total surpluses with a binding Price Floor:

What is the size of the social surplus when a Price Floor of `$8` is imposed?

`$`

What is the difference between the total surplus before and after a price control is imposed? Consider how this number compares to the deadweight loss.

`$`