Draw supply and demand graph to illustrate consumer surplus


Problem

(Consumer Surplus) Suppose supply of a good is perfectly elastic at a price of $5.The market demand curve for this good is linear, with zero quantity demanded at a price of $25. Given that the slope of this linear demand curve is -0.25, draw a supply and demand graph to illustrate the consumer surplus that occurs when the market is in equilibrium.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Draw supply and demand graph to illustrate consumer surplus
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