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1.2) (10 points) To increase revenue of Quebec Government from selling cannabis, the Socit Qubcoise du Cannabis (SQC) increases the price of cannabis to $10

1.2) (10 points) To increase revenue of Quebec Government from selling cannabis, the Socit Qubcoise du Cannabis (SQC) increases the price of cannabis to $10 per gram.

Calculate the consumer surplus before and after the increase in price. Draw a demand curve and show consumer surplus areas before and after the increase in price.

  • Consumer surplus before the increase in price: $ ______________
  • Consumer surplus after the increase in price: $ _______________

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