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Price A P2 - - B S P1 D 1 - - - D 0 Q2 Q1 Quantity Refer to Exhibit 31-4. Suppose that producers of this good engage in rent seeking which results in the government imposing a price floor of P2. The loss of consumers' surplus that occurs due to the price floor is O A+ B +C OA O A + B + C+D+E OB +C OC+E

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Price A P2 - B -- - - S P1 D 1 E - - - - D 0 Q2 Q1 Quantity Refer to Exhibit 31-4. At the market equilibrium price of the good, consumers' surplus is the area OC+E O A + B +C OD+E O A+ B + C+D+E O none of these

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Price A P2 B - - S P1 - - - D 0 Q2 Q1 Quantity Refer to Exhibit 31-4. Suppose that producers of this good engage in rent seeking which results in the government imposing a price floor of P2. The gain in producers' surplus that occurs due to the price floor is OC+E O A + B + C+D+E O A + B +C OB O B +C

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