Total producer surplus at this price is: $ 46. Seller willingness to sell one unit producer surplus
Evaluation :A) $0B) $16C) $0D) $6E) $8F) $5G) $0H) $11I) $0A + B+C+D+E+F+G+H+I = $46Total producer surplus at this priceSum of A-I = $46
The producer surplus is the difference between the price received for a product and the marginal cost to produce it. Because marginal cost is low for the first units of the good produced, the producer gains the most from producing these units to sell at the market price.
Consumers' surplus is a measure of consumer welfare and is defined as the excess of social valuation of product over the price actually paid. It is measured by the area of a triangle below a demand curve and above the observed price.
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