(Solved): Consumer and Producer Surplus Practice Problem 2 A. Indicate the areas corresponding to Consumer Su ...

Consumer and Producer Surplus Practice Problem 2 A. Indicate the areas corresponding to Consumer Surplus and Producer Surplus if this market is operating at the equilibrium point. B. Suppose that this market is unable to adjust to the market equilibrium and the price is currently at \( P_{1} \) Indicate the areas corresponding to Consumer Surplus, Producer Surplus, and the Deadweight Loss resulting from the disequilibrium in the market? C. How would the areas corresponding to Consumer Surplus, Producer Surplus, and the Deadweight Loss change if the market price was stuck at \( P_{2} \) instead of \( P_{1} \) ?