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Surplus Calculation

The document contains questions about graphs depicting supply and demand curves. It asks the reader to identify areas on the graphs that represent concepts like consumer surplus, producer surplus, and total surplus at different price levels.

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hi baby
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13 views1 page

Surplus Calculation

The document contains questions about graphs depicting supply and demand curves. It asks the reader to identify areas on the graphs that represent concepts like consumer surplus, producer surplus, and total surplus at different price levels.

Uploaded by

hi baby
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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A.

A
B. B
C. A+B
D. A+B+C

33. Refer to Graph 7-2. When the price rises from P1 to P2,
consumer surplus:
A. increases by an amount equal to A
B. decreases by an amount equal to B + C
C. increases by an amount equal to B + C
D. decreases by an amount equal to C

34. According to Graph 7-2, area C represents:


A. the decrease in consumer surplus that results from a
downward-sloping demand curve
Graph 7-1 B. consumer surplus to new consumers who enter the
market when the price falls from P2 to P1
NARREND C. an increase in producer surplus when the quantity sold
increases from Q2 to Q1
28. Refer to Graph 7-1. What area represents consumer surplus D. a decrease in consumer surplus to each consumer in the
when the price is P1? market
A. A
B. B 35. Refer to Graph 7-2. When the price rises from P1 to P2,
C. C which of the following is NOT true?
D. D A. the buyers who still buy the good are worse off because
they now pay more
29. Refer to Graph 7-1. What area represents producer surplus B. some buyers leave the market because they are not
when the price is P1? willing to buy the good at the higher price
A. A C. the total value of what is now purchased by buyers is
B. B actually higher
C. C D. consumer surplus in the market falls
D. D

30. Refer to Graph 7-1. What area represents total surplus in the
market when the price is P1?
A. A + B
B. B + C
C. C + D
D. A + B + C + D

NARRBEGIN: 7-2

Graph 7-2

NARREND

31. Refer to Graph 7-2. When the price is P1, consumer surplus
is:
A. A
B. A + B
C. A + B + C
D. A + B + D

32. Refer to Graph 7-2. At the higher price P2, consumer surplus
is:

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