Consumer Surplus vs. Economic Surplus: What's the Difference?
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Questions:
1) What is the difference between consumer surplus and producer surplus?
2) The examples of consumer and producer surplus
3) How do you calculate customer surplus?
2) Consumer surplus is the benefit or good feeling of getting a good deal. For example, let's say that you bought an airline ticket for a flight to Disney World during school vacation week for $100, but you were expecting and willing to pay $300 for one ticket. The $200 represents your consumer surplus.
ОтветитьУдалитьConsumer surplus is the benefit or good feeling of getting a good deal. For example, let's say that you bought an airline ticket for a flight to Disney World during school vacation week for $100, but you were expecting and willing to pay $300 for one ticket. The $200 represents your consumer surplus.
ОтветитьУдалитьproducer surplus
The additional income that producers receive when the market price of a variable good is higher than the price at which they were willing to offer their output on the market. Let's discuss the graph. Producer surplus is similar to consumer surplus.
Consumer surplus is the benefit or good feeling of getting a good deal. For example, let's say that you bought an airline ticket for a flight to Disney World during school vacation week for $100, but you were expecting and willing to pay $300 for one ticket. The $200 represents your consumer surplus.
ОтветитьУдалить2) Consumer surplus is the benefit or good feeling of getting a good deal. For example, let's say that you bought an airline ticket for a flight to Disney World during school vacation week for $100, but you were expecting and willing to pay $300 for one ticket. The $200 represents your consumer surplus.
ОтветитьУдалить