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Consider the accompanying supply and demand graph.

A supply and demand graph with quantity on the horizontal axis which runs from 0 to 10 by increments of 1 and price in dollars on the vertical axis which runs from 0 to 9 in increments of 1 dollar. The demand curve is negatively sloped and intersects the price axis at 9 dollars. The supply curve is positively sloped and intersects the price axis at 1 dollar. The two curves intersect at a quantity of 5 and a price of 4.50 dollars.


What is the value of producer surplus?

What is the value of total (also called social or economic) surplus?

What is the value of consumer surplus?



Consumer-Surplus   
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