The y intercepts for D, and S are 6, and 2 respectively.What is the consumer surplus and produce surplus after the taxation.
Group of answer choices
2,1
1,1
1,2
2,2
Answer is A. 2,1
Consumer surplus = 1/2 × (5-3)× 2 = 1/2 × 2×2 = 4/2 = 2
Producer surplus = 1/2 (3-2)× 2 = 1/2 × 1× 2 = 2/2 = 1.
Consumer surplus is the area below the demand curve and above the price line. Producer surplus is the area above the supply curve and below the price line.
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The y intercepts for D, and S are 6, and 2 respectively.What is the consumer surplus...
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