Consumer Surplus and Producer Surplus
Economics ⇒ Consumer and Producer Behaviour
Consumer Surplus and Producer Surplus starts at 12 and continues till grade 12.
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See sample questions for grade 12
A consumer is willing to pay Rs. 100 for a product but buys it at Rs. 70. What is the consumer surplus?
A consumer is willing to pay Rs. 200 for a good, but the market price is Rs. 150. If the consumer buys 2 units, what is the total consumer surplus?
A market has a demand curve P = 100 - Q and a supply curve P = 20 + Q. Find the equilibrium price and quantity.
A market has a demand curve P = 120 - 2Q and a supply curve P = 40 + Q. Calculate the consumer surplus at equilibrium.
A market has a supply curve P = 30 + 2Q and the market price is Rs. 70. What is the producer surplus for the first unit sold?
Define consumer surplus.
Describe how a price ceiling below equilibrium price affects consumer and producer surplus.
Describe the effect of a price floor above equilibrium price on consumer and producer surplus.
Describe the effect of an increase in demand on consumer and producer surplus.
Describe the impact of a subsidy on producer surplus.
Explain the effect of a tax imposed on a good on consumer and producer surplus.
Explain the relationship between consumer surplus and the law of diminishing marginal utility.
Explain why consumer surplus is higher when the demand is more elastic.
Explain why producer surplus is higher when the supply is more inelastic.
If the demand curve is perfectly inelastic, what will be the consumer surplus?
If the equilibrium price is Rs. 40, and the minimum price at which a producer is willing to sell is Rs. 25, what is the producer surplus per unit?
If the equilibrium price is Rs. 60 and the supply curve starts at Rs. 40, what is the producer surplus per unit?
If the market price increases, what happens to consumer surplus?
If the market price of a good is Rs. 50 and a consumer is willing to pay Rs. 80 for the first unit, what is the consumer surplus for that unit?
If the supply curve is perfectly elastic, what will be the producer surplus?
