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Ch. 5 - Consumer and Producer Surplus; Price Ceilings and FloorsWorksheetSee all chapters
All Chapters
Ch. 1 - Introduction to Microeconomics
Ch. 2 - Introductory Economic Models
Ch. 3 - Supply and Demand
Ch. 4 - Elasticity
Ch. 5 - Consumer and Producer Surplus; Price Ceilings and Floors
Ch. 6 - Introduction to Taxes and Subsidies
Ch. 7 - Externalities
Ch. 8 - The Types of Goods
Ch. 9 - International Trade
Ch. 10 - The Costs of Production
Ch. 11 - Perfect Competition
Ch. 12 - Monopoly
Ch. 13 - Monopolistic Competition
Ch. 14 - Oligopoly
Ch. 15 - Markets for the Factors of Production
Ch. 16 - Income Inequality and Poverty
Ch. 17 - Asymmetric Information, Voting, and Public Choice
Ch. 18 - Consumer Choice and Behavioral Economics
Sections
Consumer Surplus and Willingness to Pay
Producer Surplus and Willingness to Sell
Economic Surplus and Efficiency
Quantitative Analysis of Consumer and Producer Surplus at Equilibrium
Price Ceilings, Price Floors, and Black Markets
Quantitative Analysis of Price Ceilings and Price Floors: Finding Points
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

Previous SectionQuantitative Analysis of Price Ceilings and Price Floors: Finding Points
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