Suppose Yakov is the only seller in the market for bottled water and Rajiv is the only buyer. The following lists show the value Rajiv places on a bottle of water and the cost Yakov incurs to produce each bottle of water:

	Rajiv's Value
Value of first bottle:	$9
Value of second bottle:	$7
Value of third bottle:	$4
Value of fourth bottle:	$1

	Yakov's Costs
Cost of first bottle:	$1
Cost of second bottle:	$4
Cost of third bottle:	$7
Cost of fourth bottle:	$9

The following table shows their respective supply and demand schedules:

Price	Quantity Supplied	Quantity Demanded
More than $9	4	0
$7 to $9	3	1
$4 to $7	2	2
$1 to $4	1	3
$1 or less	0	4

Use Yakov's supply schedule and Rajiv's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8. Enter these values in the following table.

Price	Quantity Supplied	Quantity Demanded
2
5
8

A price of brings supply and demand into equilibrium.

At the equilibrium price, consumer surplus is

, producer surplus is

, and total surplus is

.

If Yakov produced and Rajiv consumed one less bottle of water, total surplus would .

If instead, Yakov produced and Rajiv consumed one additional bottle of water, total surplus would