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The figure on the right displays the market for video game consoles, where nine buyers are interacting with nine sellers. According to this figure, the

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The figure on the right displays the market for video game consoles, where nine buyers are interacting with nine sellers. According to this figure, the equilibrium price is $ quantity is When the market is in equilibrium, social surplus is $ , and at that price, the equilibrium If the number of consoles is restricted to two less than the equilibrium quantity, social surplus is $ Alternatively, if the government mandated that one more video game console than equilibrium be transacted, social surplus is now $ From this analysis, it can be concluded that a market in competitive equilibrium social surplus. Price Market for Video Game Consoles o { 2 4 1 3 Quantity 7 LR & According to this figure, the equilibrium price is $, and at that price, the equilibrium quantity is equilibrium, social surplus is $ maximizes es is restricted to two less than the equilibrium quantity, social equalizes ernment mandated that one more video game console than ed, social surplus is now $ minimizes - can be concluded that a market in competitive equilibrium social surplus

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