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 2

Problem 2

If the demand curve is represented by P = 100 - 2Q and the price is set at 40, what is the consumer surplus?

900

800

1200

1600