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 24 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
YES! Correct, THANKS for helping me on my review

rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

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?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

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)
The Definition of Intelligence The Definition of Intelligence
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
Video: Hydrogen bonds vs. Ionic bond

For a complete list of videos, visit our video library