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The following diagram shows supply and demand in the market for laptops. Use the black point (plus symbol) to indicate the equilibrium price and quantity
The following diagram shows supply and demand in the market for laptops. Use the black point (plus symbol) to indicate the equilibrium price and quantity of laptops. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. 200 180 Demand Equilibrium 160 4 140 120 Consumer Surplus 100 PRICE (Dollars per laptop) 80 Producer Surplus 60 40 Supply 20 25 50 75 100 125 150 175 200 225 250 QUANTITY (Millions of laptops)
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