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Price 35 32.5 30 27.5 25 22.5 20 D 17.5 15 12.5 10 7.5 5 2.5 0 0 100 200 300 400 500 If $17.5
Price 35 32.5 30 27.5 25 22.5 20 D 17.5 15 12.5 10 7.5 5 2.5 0 0 100 200 300 400 500 If $17.5 is not the equilibrium price in figure 1, what is the equilibrium price and what is the equilibrium quantity? Calculate the corresponding maximum total net social benefit, the consumer surplus and the maximum total economic profit of the producers or the producer surplus
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