I know that the equilibrium is 8 and that is where the total surplus is maximized, however, I don't understand how to get the amount for consumer surplus and producer surplus when they maximize. How would I go about doing so?

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Use the figure below to answer the following question. Price A B E LL F S St S K K Quantity D What area represents society's total surplus after the government imposes the excise tax on the market?

1. The demand and supply of apartments in Vancouver are given by (Demand) P = 1200 – 2Q and (Supply) P = 2Q. (a) Find the equilibrium price P * and quantity Q* . Compute the consumer surplus and producer surplus.

Consider a free market with demand equal to Q = 800 − 10P and supply equal to Q = 10P. What is the value of consumer surplus? What is the value of producer surplus?

Click on the icon to read the news clip, then answer the following questions. The graph shows the market for milk in Venezuela when a price control is in effect. Draw a shape that represents: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the deadweight loss. Label it DWL. Also draw a shape that show the resources lost from time spend in line. Label it Loss. Moving from a milk market with no price controls to a milk with price controls consumer surplus and producer surplus. OA. increases; increases OB. increases; decreases OC. decreases; increases OD. decreases; decreases In the market for cheese, OA. consumer surplus decreases and producer surplus decreases 60- 50- 40- 30 20- 10- Price (bolivars per gallon) 0 40 $ 300 200 300 400 500 600 700 Quantity (gallons of milk) >>> Draw only the objects specified in the question. 100 Price control D Next SOU

Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. What is the consumer surplus?   a. 200   b. 400   c. 600   d. 800

2. Ben values each latte at $12 and purchases two for $3 each from the local cafe whose costs are $1 per latte. a. How much economic surplus is created as a result of this transaction? b. What's Ben's consumer surplus and what's the producer surplus gained by the cafe?