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 thearea representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus.PRICE (Dollars per headset)#22 223 22400360320280240160120400Demand0Supply75 150 225 200 375 450 525 600 675QUANTITY (Milions of headsets)Total surplus in this market is 5750million.EquilibriumAConsumer Surplus•Producer Surplus

The link between the amount of a product provided and its price, while maintaining other variables…

# # # # # 360 320 # # # PRICE (Dollars per headset) 280 240 200 2 8 Demand Supply 75 150 225 300 379 450 525 000 675 750 QUANTITY (Milions of headsets) Total surplus in this market is 5 million. Equilibrium A Consumer Surplus Producer Surplus

# # # # # 360 320 # # # PRICE (Dollars per headset) 280 240 200 2 8 Demand Supply 75 150 225 300 379 450 525 000 675 750 QUANTITY (Milions of headsets) Total surplus in this market is 5 million. Equilibrium A Consumer Surplus Producer Surplus

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter24: Perfect Competition

Section: Chapter Questions

Problem 10E

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Question

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)
#22 223 22
400
360
320
280
240
160
120
40
0
Demand
0
Supply
75 150 225 200 375 450 525 600 675
QUANTITY (Milions of headsets)
Total surplus in this market is 5
750
million.
Equilibrium
A
Consumer Surplus
•
Producer Surplus

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