Calculate consumer surplus and producer surplus using the diagram below. Price (wage y per hour) $15.00 $14.00 $13.00 $12.00 $11.00 $10.00 $9.00- $8.00- $7.00- $6.00- $5.00 Consumer Surplus Producer Surplus Supply

Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. 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. PRICE (Dollars per headset) 400 360 320 280 240 200 160 120 80 40 0 0 Demand Supply 100 200 300 400 500 600 700 800 900 QUANTITY (Millions of headsets) Total surplus in this market is $ 1000 million. Equilibrium Δ Consumer Surplus Producer Surplus

If the actual economic surplus in the market represented by the graph is $1,575, what is the deadweight loss? Price $80 $5 $3,825 $2,925 $60 Actual quantity Marginal cost Marginal benefit $90 Quantity