Macroeconomics

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Consumer and Producer Surplus; Price Ceilings and Price Floors

Quantitative Analysis of Consumer and Producer Surplus at Equilibrium

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Quantitative Analysis of Consumer and Producer Surplus

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Problem

The supply and demand curves for a product are as follows. What is consumer surplus in this market? 

QD = 45 – 2P 

QS = -15 + P

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Problem

The supply and demand curves for a product are as follows. What is producer surplus in this market? 

QD = 45 – 2P 

QS = -15 + P