Demand curve Q = 10 – P Supply Curve Q = 2P – 210 – P = 2P – 2 equilibrium price $4equilibrium quantity 6Please explain how to get the consumer surplus, producer surplus, and total surplus?If government implemented a price floor at $5 per cup of coffee. what is the consumer surplus, producer surplus and total surplus?Suppose the government imposed a $2 tax on sellers. What would the new equilibrium price and quantity be? Total tax paid by sellers and total by buyers?If you could show me how you get these answers I would appreciate it so I will know what to do on my test. I am sure something like this will be on there.
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