8. Total economic surplus The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol)
8. Total economic surplus The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol) to indicate the equilibrium price and quantity of polaroid cameras. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to ll the area representing producer surplus. "!' Equilibrium A Consumer Surplus Producer Surplus E a: E 8 3': D. E g: E 9, DJ 9 II n. 150 225 300 375 450 525 500 675 750 QUANTITY (Millions of cameras) Total surplus in this market is million
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