The following graph plots the supply and demand curves in the market for motor scooters. Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. 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 scooter) 300 270 240 210 180 150 120 60 30 0 0 Demand Supply 95 190 285 380 475 570 665 780 855 QUANTITY (Millions of scooters) Total surplus in this market is $ 950 million. Equilibrium A Consumer Surplus ◇ Producer Surplus

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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The following graph plots the supply and demand curves in the market for motor scooters.
Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. 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 scooter)
300
270
240
210
180
150
120
60
30
0
0
Demand
Supply
95 190 285 380 475 570 665 780 855
QUANTITY (Millions of scooters)
Total surplus in this market is $
950
million.
Equilibrium
A
Consumer Surplus
Producer Surplus
Transcribed Image Text:The following graph plots the supply and demand curves in the market for motor scooters. Use the black point (plus symbol) to indicate the equilibrium price and quantity of motor scooters. 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 scooter) 300 270 240 210 180 150 120 60 30 0 0 Demand Supply 95 190 285 380 475 570 665 780 855 QUANTITY (Millions of scooters) Total surplus in this market is $ 950 million. Equilibrium A Consumer Surplus Producer Surplus
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