Consumer and producer surpluses
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Consumer and Producer Surpluses. Unit Four, Lesson Four Cook Economics. Consumer and Producer Surpluses. Demand is a measure of how much a consumer is willing and able to buy of a product at every price.

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Consumer and Producer Surpluses

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Consumer and producer surpluses

Consumer and Producer Surpluses

Unit Four, Lesson Four

CookEconomics


Consumer and producer surpluses1

Consumer and Producer Surpluses

  • Demand is a measure of how much a consumer is willing and able to buy of a product at every price.

  • Sometimes you may get a product for less than you would have been willing to pay and the market price.

  • Consumer surplus‚ÄĒdifference between what people are willing to pay and the market price.


Consumer surplus

Consumer Surplus


Producer surplus

Producer Surplus

  • The same works for producers. They are often willing to sell an item for a price lower than what they end up receiving.

  • Producer surplus‚ÄĒdifference between the market price which producers receive for their product and the price at which they are willing to sell their good


Producer surplus1

Producer Surplus


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