Homework Answers
Consumer surplus is the difference between willingness to pay of consumer and actual price paid that is the area above price and below demand curve.
Producer surplus is the difference between willingness to accept of producer and actual price received that is the area above supply cuve and below price.
In the figure, price is P2. So area above it and below demand curve include: (A+B+E) and area below this price and above supply curve include: (C+D+F)
Consumer surplus= (A+B+E)
Producer surplus= (C+D+F)
option 3rd is the answer.
Add Answer to:
what area in the graph repersents consumer surplus? what area
in the graph repersents producer surplus...
Question 5 Welfare for a country is equal to consumer surplus consumer surplus minus producer surplus...
Question 5 Welfare for a country is equal to consumer surplus consumer surplus minus producer surplus consumer surplus plus producer Surplus plus tariffrevenues consumer surplus plus producer Surplus minus tariff revenues Question 6 Use the graph below to answer this question: In autarky (before trade) consumer surplus is the area represented by the letter(s) (For this question and the following ones that use the same graph. Sis domestic supply. Dis domestic demand Pw is the world price is the tarif)
1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the graph....
1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the graph. Calculate the area of consumer surplus, and producer surplus. $60 20 40 600
a. In the graph below, identify the areas of consumer surplus and producer surplus. Instructions: Use...
a. In the graph below, identify the areas of consumer surplus and producer surplus. Instructions: Use the tool provided PS' to identify the area of producer surplus. This will drop a small triangle with 3 endpoints onto the graph. Drag the endpoints to the appropriate positions to identify the area of producer surplus. Then, use the tool provided CS and follow the same process for consumer surplus 0.26 points Tools Supply cs PS Demand Quantity b-lf the supply curve shifts...
Illustrate (draw a graph) consumer and producer surplus using demand and supply graph and explain how total surplus (consumer surplus plus producer surplus) can be maximised at the equilibrium level.
Illustrate (draw a graph) consumer and producer surplus using demand and supply graph and explain how total surplus (consumer surplus plus producer surplus) can be maximised at the equilibrium level.
Calculate consumer and producer surplus and total welfare using the following information and the formula for...
Calculate consumer and producer surplus and total welfare using the following information and the formula for the area of a triangle. Equilibrium is achieved at a price of $18 and a quantity of 60. Consumers are willing to pay $40 for a quantity of zero. Producers are willing to produce a quantity of zero at a price of $8. Consumer surplus: Producer surplus: Total welfare:
Calculate consumer and producer surplus and total welfare using the following information and the formula...
5. Consumer surplus, producer surplus, and deadweight loss with quantity restrictions The following graph shows the...
5. Consumer surplus, producer surplus, and deadweight loss with quantity restrictions The following graph shows the supply of (orange curve) and demand for (blue curve) DVD players. Determine the equilibrium price and quantity of DVD players. Based on this, use the green triangle (triangle symbols) to shade the area representing consumer surplus at the equilibrium price. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus at the equilibrium price. 200 180 Demand Consumer Surplus Producer...
Name 1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the...
Name 1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the graph. Calculate the area of consumer surplus, and producer surplus. $60 $40 $20 20 40 60 Q
6. On the first graph, show the initial consumer and producers' surplus. On the second graph,...
6. On the first graph, show the initial consumer and producers' surplus. On the second graph, show how the producer and consumers surplus changes when supply increases. On the third graph, show how the producer and consumers surplus changes when demand increases Price rice Supply Supply Supply Demand Domand Demand Quantity Quantit) Quantity
QUESTION 5 In the following figure, which area represents producer surplus? a. Area C b. Area...
QUESTION 5
In the following figure, which area represents producer
surplus?
a.
Area C
b.
Area A
c.
Area B
1 points
QUESTION 6
Which of the following represents producer
surplus?
a.
B+A
b.
B
c.
A
1 points
QUESTION 7
Refer to the figure below. Producer surplus
is:
a.
$180
b.
$60
c.
$420
1 points
QUESTION 8
Social surplus is ________.
a.
the sum of consumer surplus and producer surplus
b.
consumer surplus minus producer...
1. Refer the graph below: 200 20 600 300 If the market is at the equilibrium, what will be the consumer surplus, pr...
1. Refer the graph below: 200 20 600 300 If the market is at the equilibrium, what will be the consumer surplus, producer surplus and total surplus? If the price increase to $12 per unit then what will be the new consumer surplus and the loss in the consumer surplus due the price rise? • Calculate the loss to the existing consumers and loss to the consumers who left the market after the price rise.
Question 5 Welfare for a country is equal to consumer surplus consumer surplus minus producer surplus consumer surplus plus producer Surplus plus tariffrevenues consumer surplus plus producer Surplus minus tariff revenues Question 6 Use the graph below to answer this question: In autarky (before trade) consumer surplus is the area represented by the letter(s) (For this question and the following ones that use the same graph. Sis domestic supply. Dis domestic demand Pw is the world price is the tarif)
1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the graph. Calculate the area of consumer surplus, and producer surplus. $60 20 40 600
a. In the graph below, identify the areas of consumer surplus and producer surplus. Instructions: Use the tool provided PS' to identify the area of producer surplus. This will drop a small triangle with 3 endpoints onto the graph. Drag the endpoints to the appropriate positions to identify the area of producer surplus. Then, use the tool provided CS and follow the same process for consumer surplus 0.26 points Tools Supply cs PS Demand Quantity b-lf the supply curve shifts...
Calculate consumer and producer surplus and total welfare using the following information and the formula for the area of a triangle. Equilibrium is achieved at a price of $18 and a quantity of 60. Consumers are willing to pay $40 for a quantity of zero. Producers are willing to produce a quantity of zero at a price of $8. Consumer surplus: Producer surplus: Total welfare:
Calculate consumer and producer surplus and total welfare using the following information and the formula...
5. Consumer surplus, producer surplus, and deadweight loss with quantity restrictions The following graph shows the supply of (orange curve) and demand for (blue curve) DVD players. Determine the equilibrium price and quantity of DVD players. Based on this, use the green triangle (triangle symbols) to shade the area representing consumer surplus at the equilibrium price. Then, use the purple triangle (diamond symbols) to shade the area representing producer surplus at the equilibrium price. 200 180 Demand Consumer Surplus Producer...
Name 1. Find the equilibrium, price and quantity, Label consumer surplus, and producer surplus in the graph. Calculate the area of consumer surplus, and producer surplus. $60 $40 $20 20 40 60 Q
6. On the first graph, show the initial consumer and producers' surplus. On the second graph, show how the producer and consumers surplus changes when supply increases. On the third graph, show how the producer and consumers surplus changes when demand increases Price rice Supply Supply Supply Demand Domand Demand Quantity Quantit) Quantity
QUESTION 5
In the following figure, which area represents producer
surplus?
a.
Area C
b.
Area A
c.
Area B
1 points
QUESTION 6
Which of the following represents producer
surplus?
a.
B+A
b.
B
c.
A
1 points
QUESTION 7
Refer to the figure below. Producer surplus
is:
a.
$180
b.
$60
c.
$420
1 points
QUESTION 8
Social surplus is ________.
a.
the sum of consumer surplus and producer surplus
b.
consumer surplus minus producer...
1. Refer the graph below: 200 20 600 300 If the market is at the equilibrium, what will be the consumer surplus, producer surplus and total surplus? If the price increase to $12 per unit then what will be the new consumer surplus and the loss in the consumer surplus due the price rise? • Calculate the loss to the existing consumers and loss to the consumers who left the market after the price rise.
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