This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is the best definition of producer surplus? (Read 23 times)

Apple716

  • Full Member
  • ***
  • Posts: 157
on: Oct 12, 2022

Question 1

The diagram below shows the demand and supply curves in a perfectly competitive market.



FIGURE 12-6

Refer to Figure 12-6. If output in this market were Q3, the loss in total economic surplus relative to the competitive equilibrium would be illustrated by area


◦ 1.
◦ 2.
◦ 3.
◦ 4.
◦ 3 + 4.

Question 2

Which of the following is the best definition of producer surplus?
◦ quantity produced in excess of the allocatively efficient amount
◦ the total revenue received by the producer for a good minus the total cost of producing that good
◦ the price of a good minus the marginal cost of producing it, summed over the quantity produced
◦ the revenue received for a good, minus the cost of producing it
◦ the price of a good minus the cost of producing it
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Apple716 on Oct 12, 2022

jojomac20

  • Full Member
  • ***
  • Posts: 149
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


Apple716

  • Member
  • Posts: 157
Reply 2 on: Oct 12, 2022
Wow, this really help

dantucker

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

A Schematic Definition of Retrograde Amnesia and Anterograde Amnesia A Schematic Definition of Retrograde Amnesia and Anterograde Amnesia
Annual Federal Deficit (or Surplus), 1992–2016 Annual Federal Deficit (or Surplus), 1992–2016
The Definition of Intelligence (2 of 3) The Definition of Intelligence (2 of 3)
Producer acquiring energy and nutrients from the environment Producer acquiring energy and nutrients from the environment
What is the definition of reticulate speciation? What is the definition of reticulate speciation?
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
Video: Lipid catabolism - lipolysis and beta oxidation and oxidation of fatty acids

For a complete list of videos, visit our video library