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8. Total economic surplus The following diagram shows supply and demand in the market for tablets. Use the black point (plus symbol) to indicate the
8. Total economic surplus The following diagram shows supply and demand in the market for tablets. Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the ares representing producer surplus. 150 Demand 135 Equilibrium 120 A 105 Consumer Surplus PRICE (Dollars pertablet) Producer Surplus 45 Supply 35 70 105 140 175 210 245 280 315 350 QUANTITY (Millions of tablets) Total surplus in this mark 34,200 million
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