Economics For Today
9th Edition
ISBN: 9781305507074
Author: Tucker, Irvin B.
Publisher: Cengage Learning,
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Chapter 3.A, Problem 2SQ
To determine
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This is the demand and supply for ABC company that sells widgets in Texas. Refer to the diagram below, if
the market is in equilibrium, the producer surplus earned by the seller of the Ist unit is
$ 80
$70
$ 60
$ 50
$ 40
$ 30
$ 20
$ 10
D.
10 20 30 40 50 60 70 80 90
Q(Widgets)
O a. $70.00
O b. $10.00
O c. $20.00
O d. $30.00
Consider the market for LCD TVs. Assume the market is perfectly competitive
and at a market-clearing equilibrium.
What area represents consumer surplus?
1.) Use the triangle drawing tool to shade in consumer surplus. Label this area
'Consumer Surplus'.
What area represents producer surplus?
2.) Use the triangle drawing tool to shade in producer surplus. Label this area
'Producer Surplus'.
Carefully follow the instructions above, and only draw the required objects.
D
Quantity of LCD TVs
Price of LCD TVs
if marco is a seller of shirts and he sells a shirt for 48 dollars , which results in him having a producer surplus from the sale equal to $8 , what is his cost of production?
a. 48
b. 32
c.8
d. 40
Chapter 3 Solutions
Economics For Today
Ch. 3.6 - Prob. 1YTECh. 3.7 - Prob. 1GECh. 3.7 - Prob. 2GECh. 3.7 - Prob. 3GECh. 3.A - Prob. 1SQPCh. 3.A - Prob. 2SQPCh. 3.A - Prob. 3SQPCh. 3.A - Prob. 4SQPCh. 3.A - Prob. 1SQCh. 3.A - Prob. 2SQ
Ch. 3.A - Prob. 3SQCh. 3.A - Prob. 4SQCh. 3.A - Prob. 5SQCh. 3.A - Prob. 6SQCh. 3.A - Prob. 7SQCh. 3.A - Prob. 8SQCh. 3.A - Prob. 9SQCh. 3.A - Prob. 10SQCh. 3 - Prob. 1SQPCh. 3 - Prob. 2SQPCh. 3 - Prob. 3SQPCh. 3 - Prob. 4SQPCh. 3 - Prob. 5SQPCh. 3 - Prob. 6SQPCh. 3 - Prob. 7SQPCh. 3 - Prob. 8SQPCh. 3 - Prob. 9SQPCh. 3 - Prob. 10SQPCh. 3 - Prob. 11SQPCh. 3 - Prob. 12SQPCh. 3 - Prob. 1SQCh. 3 - Prob. 2SQCh. 3 - Prob. 3SQCh. 3 - Prob. 4SQCh. 3 - Prob. 5SQCh. 3 - Prob. 6SQCh. 3 - Prob. 7SQCh. 3 - Prob. 8SQCh. 3 - Prob. 9SQCh. 3 - Prob. 10SQCh. 3 - Prob. 11SQCh. 3 - Prob. 12SQCh. 3 - Prob. 13SQCh. 3 - Prob. 14SQCh. 3 - Prob. 15SQCh. 3 - Prob. 16SQCh. 3 - Prob. 17SQCh. 3 - Prob. 18SQCh. 3 - Prob. 19SQCh. 3 - Prob. 20SQ
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