8 . Consumer and Producer Surplus Suppose Antonio is the only seller in the market for bottled water and Shen is the only buyer. The following lists show the value Shen places on a bottle of water and the cost Antonio incurs to produce each bottle of water: Shen's Value Antonio's Costs Value of rst bottle: $10 Cost of rst bottle: $1 Value of second bottle: $Ir' Cost of second bottle: $3 Value of third bottle: $3 Cost of third bote: $? Value of fourth bottle: $1 Cost of fourth bottle: $10 The following table shows their respective supply and demand schedules: Price Quantity Demanded Quantity Supplied $1 or less 4 0 $1 to 3 1 $3 $3 to $? 2 2 $? to $10 1 3 More than $10 0 4 Use Antonio's supply schedule and Shen's demand schedule to nd the quantlty supplied and quantity demanded at prices of $2, $6, and $9. Enter these values in the following table. Price Quantity Demanded Quantity Supplied 2 E :l 6 E :l 9 E :l A price of V brings supply and demand into equilibrium. At the equilibrium price, consumer surplus is , producer surplus is , and total surplus is . If Antonio produced and Shen consumed one less bottle of water, total surplus would V . If instead, Antonio produced and Shen consumed one additional bottle of water. total surplus would V