Quantitative Analysis of Price Ceilings and Price Floors: Finding Points

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Price Ceilings and Price Floors: Finding Points / Problem 6

Problem 6

If the quantity demanded is 800 units and the quantity supplied is 1200 units, what is the surplus?

1200 units

1600 units

400 units

800 units