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Part II Consumer and Producer Surplus 3. (1 point total, 0.5 points.pdf

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Part II: Consumer and Producer Surplus: 3. (1 point total, 0.5 points for each item) Refer back to problems 1 . and 2. above. (a) Redraw the initial equilibrium diagram from problem 1., and label the "free-market" consumer surplus and the producer surplus. (b) Now redraw your diagram from problem 2. above. This time, label the post-tax consumer surplus and the post-tax producer surplus..

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Part II: Consumer and Producer Surplus: 3. (1 point total, 0.5 points for each item) Refer back to problems 1 . and 2. above. (a) Redraw the initial equilibrium diagram from problem 1., and label the "free-market" consumer surplus and the producer surplus. (b) Now redraw your diagram from problem 2. above. This time, label the post-tax consumer surplus and the post-tax producer surplus.

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