Microeconomics

Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors

Consumer and Producer Surplus; Price Ceilings and Floors

Producer Surplus and Willingness to Sell

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Let's analyze some details of the supply curve.

1

concept

Producer Surplus in a Small Setting

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11m
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2

concept

Producer Surplus and Market Supply

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5m
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3

example

Producer Surplus

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2m
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4
Problem

Use the graph for funky-fresh rhymes above. If a shift in demand causes equilibrium price to increase from $3,000 to $5,000 per funky-fresh rhyme, what is the change to producer surplus?