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.