5. Consumer and Producer Surplus; Price Ceilings and Floors

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas / Problem 14

Problem 14

Given a graph with a price floor set at \$15, equilibrium price at \$10, and supply axis price at \$5, what is the missing price if the demand axis price is \$20?

\$17.50

\$7.50

\$12.50

\$22.50