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 5

Problem 5

When calculating the area of producer surplus under a price floor, which geometric shapes are typically used?

A rectangle and a triangle.

A square and a triangle.

Two triangles.

A circle and a rectangle.