In the graph shown, identify the supply curve
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In the graph shown, identify the demand curve
a. In the graph below, identify the areas of consumer surplus and producer surplus.
b lf the supply curve shifts outward (to the right), consumer surplus will.............. and price will...............
The government is considering three alternative policies to restrict alcohol drinking. The supply and demand curves are as follows: Demand: Qd = 300 - P Supply: Q:=P/2 where P is measured in cents and Q is measured in millions of bottles per month. a. Graph the supply and demand curves. Identify the P and Q intercepts for the demand curve and the P and Q intercept for the supply curve. Solve for the equilibrium price and quantity. Show the equilibrium in the graph. [10 marks]