https://file.aiquickdraw.com/mathbot/file/1727193325088288s85hj.jpg

Let's analyze the graph and the questions.

### 1. **Consumer Surplus** at the Market Equilibrium Price and Quantity:
Consumer surplus represents the area between the demand curve (D) and the price line, up to the equilibrium quantity (Q\*). In this graph, the equilibrium price is where the supply (S) and demand (D) curves intersect, at point **N**.

- The consumer surplus is the triangular area **above** the equilibrium price line (ZN) and **below** the demand curve (MN), up to the equilibrium quantity. This corresponds to area **GZN**.
  
So, the answer to **Question 1** is:
**(c) G Z N**

### 2. **Producer Surplus** at the Market Equilibrium Price and Quantity:
Producer surplus represents the area between the supply curve (S) and the price line, up to the equilibrium quantity (Q\*). In the graph, this is the triangular area **below** the equilibrium price line (ZN) and **above** the supply curve (ZQ).

- The producer surplus corresponds to area **Z N Q**.

So, the answer to **Question 2** is:
**(d) Z M N**

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Would you like further details or explanations?

Here are 5 related questions for deeper understanding:
1. How does consumer surplus change if the demand curve shifts to the right?
2. What happens to producer surplus if the supply curve shifts leftward?
3. How is total economic surplus calculated in a supply and demand graph?
4. What impact do price ceilings have on consumer and producer surplus?
5. Why is equilibrium price important for maximizing total surplus?

**Tip:** Remember that consumer surplus is always above the price line and producer surplus is below it, both up to the equilibrium quantity.

Based on the graph above, the consumer surplus at the market equilibrium price and quantity is shown by which area? Based upon the graph, the producer surplus at the market equilibrium price and quantity is shown by which area?

Understand how to calculate consumer and producer surplus at the market equilibrium price and quantity using a supply and demand graph. Learn the specific areas representing surplus with detailed explanations. Suitable for high school economics students in Grades 11-12.

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