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 61 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
Excellent

Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Annual Federal Deficit (or Surplus), 1992–2016 Annual Federal Deficit (or Surplus), 1992–2016
The Definition of Intelligence (1 of 3) The Definition of Intelligence (1 of 3)
The Definition of Intelligence (2 of 3) The Definition of Intelligence (2 of 3)
The Definition of Intelligence The Definition of Intelligence
The Definition of Intelligence The Definition of Intelligence
What is the definition of reticulate speciation? What is the definition of reticulate speciation?
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library