4 . Total economic surplus

The following graph plots the supply and demand curves in the market for motor scooters.

Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus.

PRICE (Dollars per scooter) 250 225 200 WS 150 125 100 a4 0'! on D M 0'! Demand 30 60 90 120 150 180 210 QUANTITY (Millions of scooters) 240 270 300 '1' Equilibrium A Consumer Surplus Producer Surplus