1.First Position the demand using the slide so its endpoints are (0, 40 and 40,0).

2.Now click on supply point B red dot so it rests on a quantity of 40 at a P =40 And the origin (0,0)

3.The equilibrium price is? $_______

4.The equilibrium quantity is _______

5.Consumer surplus at this equilibrium is equal to $_________.

6.Producer surplus at this equilibrium is equal to $________.

7.Place a price ceiling at a price of $10.

8.How many units will be purchased at the price ceiling of $10? _______

9.The consumer surplus after the implementation of the price ceiling has now become $______

10.There has been a(n) (increase, decrease) of consumer surplus of $_________

11.Producer surplus after the implementation of the price ceiling has become $________.

12.There has been a(n) (increase, decrease) of producer surplus of $_______.

13.Social surplus after the implementation of the price ceiling is $________.

14.The dead weight loss of the price ceiling is $_______.

Shift in demand

Suppose that demand decreases to the points ($30,0) and (0,30)

15.The new equilibrium price is $__________and the new equilibrium quantity is ________.

16.Consumer surplus at this equilibrium is equal to $_________.

17.Producer surplus at this equilibrium is equal to $________.

18.Compare the consumer, producer and social surplus between the original equilibrium and after the shift in demand.

Bb Take Test: Problem set # x Bb Supply Demand v1.0.1 x PS4 Consumer and proc X Bb Problem Sets - Princof X Bb Supply Demand v1.0.1 x Supply Demand v1.0.1 x + X CO courses.cscc.edu/bbcswebdav/institution/0.%20DEIS%20Content/01%20Interactions%20Team%20Showcase/R%20And%20D/ECON%20SupplyNDemand%20Chart%20Demo... M . . . Bb Blackboard Learn CS CougarWeb Sign in to Outlook Sign in to Outlook Yahoo - login C Get Homework Hel... @ Learning tools & fla... |STUDYBLUE | Find a... ACCT 1211 : Financi > > 55 Move Demand Line (1-50): 50 25.00 45 40 Supply Point B 35 30 Price 185 20 15 - - - - Equilibrium 10 5 Supply Point: A Demand -5 5 15 20 25 30 35 40 45 50 Quantity Use the "Move Demand Line" slider to change the position of the "Demand" line. Drag the "Supply Point: A or B" anywhere to change supply's slope. Version 1.0.1 Type here to search W 10:47 AM 10/6/2020