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Last year the average price for an airline ticket was $450, but Average ticket price 1, the average price dropped to $375 this year due

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Last year the average price for an airline ticket was $450, but Average ticket price 1, the average price dropped to $375 this year due to a decrease 3: in the demand for airplane travel. The accompanying table a . . . . contains information on the supply of air traVel. a. Using the information in the table, move the points on the graph to sketch a supply curve. 1). Shade the area on the graph that represents producer surplus from the previous year when the price was $450. Also shade the area that represents producer surplus this year after the price has dropped to $375. Click on the PS triangle buttons to place the triangles on the graph. $150 $300 $450 $600 $750 Quantity supplied (thousands of se. 200 500 800 1,100 1,400

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