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Market for Raisin' Cane's Chicken Finger Meal Price $21 S $18 $15 $12 $ 9 $ 6 $ 3 D 0 3 6 9 12

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Market for Raisin' Cane's Chicken Finger Meal Price $21 S $18 $15 $12 $ 9 $ 6 $ 3 D 0 3 6 9 12 15 18 21 Quantity 1. How much is the producer surplus? Show your work. 4 pts. 2. If the government places a $9 price ceiling to help consumers afford chicken finger meals, will there be a shortage or surplus? 2 pts. Explain. 4 pts. 3. Let's say more people decide to eat at Arby's, which mainly sells beef, and the price of a 4-piece chicken finger meal drops from $12 to $6. Will the price elasticity of demand be elastic demand, inelastic demand, or unit elastic? 4 pts

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