Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets.

Use the black point (plus symbol) to indicate the equilibrium price and quantity of tablets. 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.

Expert Solution

Total Surplus in this market is $ 6000 million

(TS = area of triangle = 0.5*(180-80)*(100)+0.5*(80-60)*(100))

Rahul Sunny answered 2 years ago

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