Consumer & Producer Surplus
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Uploader Comments (BrynJonesOnline)
Top Comments
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30 seconds of this video and a WHOLE year of confusion has gone. Thank you SO much!
2 years ago 19
All Comments (22)
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You have taught me more in 3 minutes than my teacher has taught me all year! Thank you so much
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Still confused about producer surplus
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yet you are correct when you talk about less efficient firms coming in below the market price as it moves up the supply the curve in yet these are efficient because they can produce below the market price and we are assuming that profit has already be included in that price. Or do you mean they are non efficient because they can only produce a small supply at that price? hence my observations have been a little wayward. It's just we played your video in class and it came up as an observation
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just to pick you up on a point you disuss when illustrating producer supply companies below the current market price being inefficient how can they be when they are supplying below the market price? They can gain short term market share from competitive pricing, well below the current market price continually there producer surplus is more. Surely these companies are efficient not inefficient?
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i have a question , what is the thing i need in this topic ? i mean is there are any formulas or calculations to solve producer or consumer surplus ?
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so the triangle on the producer surplus diagram shows their profit? as they were able to produce on a budget way under what they actually sold their product for
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Very good ! thank you
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Noformulas, no calculations, you just need to be able to draw the diagrams and explain them
BrynJonesOnline 3 months ago
Yes and no! Producer surplus shows the amount firms receive above the pricet they needed to receive to supply the good. You can assume that supply price they required included the profit they wanted, so the producer surplus is additional profit in addition to their required profit
BrynJonesOnline 10 months ago