Author Question: Using supply and demand curve analysis, the triangular area below the equilibrium price and above ... (Read 103 times)

brutforce · **on:** Jun 30, 2018

Using supply and demand curve analysis, the triangular area below the equilibrium price and above the supply curve is:
a. consumer surplus.
b. producer surplus.
c. marginal cost.
d. deadweight loss.

Question 2

Producer surplus is the:
a. amount by which the quantity supplied of a good exceeds the quantity demanded of a good.
b. measure of producers' willingness to sell a good plus the price of the good.
c. measure of how much producers value a good.
d. amount consumers actually pay for a good minus the amount the sellers are willing to sell the good.