Quantitative Analysis of Price Ceilings and Floors: Finding Areas

5. Consumer and Producer Surplus; Price Ceilings and Price Floors / Quantitative Analysis of Price Ceilings and Floors: Finding Areas / Problem 1

Problem 1

If the demand curve is P = 180 - 6Q and the price is set at 60, what is the consumer surplus?

600

1500

900

1200