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Ch. 5 - Consumer and Producer Surplus; Price Ceilings and FloorsWorksheetSee all chapters

# Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas

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###### Now let's calculate areas on the graph in situations where price limitations exist. Algebra time!

Concept #1: Graph Intuition

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Example #1: The Steps We've Done Before

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Example #2: The New Steps

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Practice: The supply and demand curves for a product are as follows. What is producer surplus if a price floor of $21 is set? QD = 45 - 2P QS = -15 + P Practice: The supply and demand curves for a product are as follows. What is deadweight loss if a price ceiling of$2 is set?

QD = 600 - 100P
QS = -150 + 150P

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