Consumer and producer surplus, Microeconomics

Assignment Help:

Evaluating the Gains and Losses from the Policies of Government: Consumer and Producer Surplus

* Review

- Consumer surplus is total benefit or value which consumers receive beyond what they pay for good.

- Producer surplus is total benefit or revenue which producers receive beyond what it cost to produce a good.

1066_consumer and producer surplus.png
* To determine welfare effect of a governmental policy we can measure gain or loss in consumer and producer surplus.

* Welfare Effects

- Gains and losses because of government intervention in the market.

1650_consumer and producer surplus1.png


Related Discussions:- Consumer and producer surplus

Economics 262, A recent national survey found that high school students wat...

A recent national survey found that high school students watched an average (mean) of 7.2 DVDs per month with a population standard deviation of .90. A random sample of 35 college

Forms of globalization, Globalization: A generalized historical process by ...

Globalization: A generalized historical process by which more economic activity occurs across national borders. Forms of globalization include international trade (imports and expo

Parameters for assessing economic reforms, PARAMETERS FOR ASSESSING ECONOMI...

PARAMETERS FOR ASSESSING ECONOMIC REFORMS: Let it be clearly understood that liberalisation, privatisation and globalisation are means with the help of which the growth proces

Calculate income elasticity of demand, When Alex's income increased from $3...

When Alex's income increased from $3,000 to $5,000, he increased his consumption of bagels from 4 to 8 a month and decreased his consumption of donuts from 12 to 6 a month. Calcula

Consumer surplus, using necessary and sufficient condition explain consumer...

using necessary and sufficient condition explain consumer surplus diagrammically and mathematically?

Crop patterns, CROP PATTERNS: Analysis of crop patterns in India shoul...

CROP PATTERNS: Analysis of crop patterns in India should relate to the following aspects:  a) The relative significance of different crops/crop groups in the overall area u

Monopsony, Monopsony: Demonstrate (with a graph) how a ...

Monopsony: Demonstrate (with a graph) how a minimum wage can increase both the wage and employment in a monopsony market even when the government sets th

Microeconomics, I need help on MCQs on international trade and imperfect co...

I need help on MCQs on international trade and imperfect competetion

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd