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Can you check the work Price ceilings are often perceived to benefit consumers; however, is this true? Refer to the graph to the right. Suppose

Can you check the work

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Price ceilings are often perceived to benefit consumers; however, is this true? Refer to the graph to the right. Suppose the government sets a maximum price of $4.00. D2 S (Round your responses to two decimal places. If there is a net loss in consumer surplus, then the net gain is a negative 19 number.) Price ($) What is the net gain in consumer surplus if demand is D,? D1 13 The net gain for D, is $ 14.47 What is the net gain in consumer surplus if demand is D2? 10 The net gain for D2 is $ - .96 The above shows that for a given supply curve, if demand is sufficiently inelastic , consumers experience a net loss in consumer surplus. :10 14 22: Quantity

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