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- What is producer surplus? How is it illustrated on a demand and supply diagram?what is producer surplus and how is it measured? What is the relationship between the cost to sellers and the supply curve? All else being equal, what happens to producer surplus when the price of a good rise?What is the value of consumer surplus? What is the value of producer surplus?
- The graph shows the supply curve of smart watches and the market price of a smart watch. Draw the producer surplus from smart watches. Label it. What is producer surplus? Producer surplus is OA. equal to the value that the seller places on the good, summed over the quantity sold OB. received by a producer when price exceeds the marginal cost of production OC. the value of the good minus its marginal cost, summed over the quantity sold O D. the marginal benefit received by a producer, summed over all the units sold 500- 400 300- 200- 100- Price (dollars per smart watch) 0- 0 S-MC H Market price Q 2 6 3 5 Quantity (millions of smart watches per year) >>> Draw only the objects specified in the question.what do you understand by consumer and prducer surplus ?what is the impact of price decrease on consumer surplus?and on producer surplus.show graphically and interpret.The graph shows the supply curve of smart watches and the market price of a smart watch. Draw the producer surplus from smart watches. Label it. What is producer surplus? Producer surplus is OA. equal to the value that the seller places on the good, summed over the quantity sold OB. received by a producer when price exceeds the marginal cost of production OC. the value of the good minus its marginal cost, summed over the quantity sold D. the marginal benefit received by a producer, summed over all the units sold 500+ 400- 300- 200- 100+ 0- Price (dollars per smart watch) S-MG 0 Market price 1 4 5 6 2 3 Quantity (millions of smart watches per year) >>> Draw only the objects specified in the question. Q 7
- O Macmillan Learning Figure: Producer Surplus P $3 2 - 10 $6 $10 20 Supply Q What is the producer surplus at a price of $2 per unit? $5 $20If demand is P = 60 - 2Q and supply is P = 20 + 3Q, what is the value of the Consumer Surplus? Enter as a value. Previous NextWhat is producer surplus? How is it illustrated on a demand and supply diagram? Give an example of producer surplus.