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

# Quantitative Analysis of Price Ceilings and Floors: Finding Areas

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Concept #1: Graph Intuition

Example #1: The Steps We've Done Before

Example #2: The New Steps

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