mples of price gouging Answ x 18/1 O Resources x Give Up? O Him Suppose the graph depicts a hypothetical market for concert tickets at a local college venue. Because students are paying Market for...

Extracted text: mples of price gouging Answ x 18/1 O Resources x Give Up? O Him Suppose the graph depicts a hypothetical market for concert tickets at a local college venue. Because students are paying Market for Concert Tickets 100 such high prices, a price ceiling of $40 per concert is being considered. Move the price ceiling line to correctly depict the price 90 80 ceiling of $40. 70 60 By how much does consumer surplus (CS) change if the ৪ 50 price ceiling is imposed? 40 Price ceiling 30 $ 20 10 By how much does producer surplus (PS) decrease if the price ceiling is imposed? 10 20 30 40 50 60 70 80 90 100 Quantity (tickets) 2$ What is the value of the deadweight loss (DWL) associated with this price ceiling? bp 14yes at of BRy Price ($)