Problem
1. What are consumer surplus and producer surplus?
2. When is a market efficient?
3. When do price ceilings matter?
4. What effects do price ceilings have on economic activity?
5. When do price floors matter?
6. What effects do price floors have on economic activity?
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.