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 29 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
Gracias!

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

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 The Definition of Intelligence
The Definition of Intelligence The Definition of Intelligence
Find derivative by using definition of the derivative question 2 Find derivative by using definition of the derivative question 2
US federal budget deficit/surplus and debt US federal budget deficit/surplus and debt
Video: What is Cholesterols? Introduction to Lipoproteins

For a complete list of videos, visit our video library