economics

posted by .

what is producer surplus? “The more the competition among the sellers, the less the producer surplus enjoyed by the producers” – do you agree with the statement. Justify your answer. Suppose, a producer is willing to sell 50Kg potato at price Tk.18/Kg. If the market price of potato is Tk.24/Kg, what will be the total producer surplus of the producer if he/she sells 50Kg potato?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Econ

    At Nick's Bakery, the cost to make his homemade chocolate cake is $3 per cake. He sells three and receives a total of $21 worth of producer surplus. Nick must be selling his cakes for a. $2 each. b. $7 each. c. $8 each. d. $10 each. …
  2. Economics

    I have the following question in my assignment: The cost of producing stero systems has fallen over the past several decades. A:Use the supply-and-demand diagram to show the effects of fallaing production costs on the price and quantity …
  3. Microecon

    Hi, I've got a question about producer surplus. I know that the magnitude of producer surplus would depend on the elasticity of supply, but i don't know why... Please explain. Thank you!
  4. Economics

    I am trying to calculate the reduction in consumer surplus and producer surplus caused by the tax in this graph. The price with the tax is $12. The buyers pay $16. Sellers receive $8. The quantity has decreased from 25 to 15. The answers …
  5. Economics

    The handmade snuffbox industry is composed of 100 identical firms, each having short – run total costs given by STC = 0.5q2 + 10q + 5 and short – run marginal costs by SMC = q + 10 where q is the output of snuffboxes per day. a) …
  6. Economics

    The handmade snuffbox industry is composed of 100 identical firms, each having short – run total costs given by STC = 0.5q2 + 10q + 5 and short – run marginal costs by SMC = q + 10 where q is the output of snuffboxes per day. a) …
  7. Microeconomics

    Answer the following questions based on the graph that represents J.R.'s demand for ribs per week of ribs at Judy's rib shack. a. At the equilibrium price, how many ribs would J.R. be willing to purchase?
  8. economics

    First,label the following scenarios as to whether they would create a producer or consumer surplus. Then, after you have labeled each scenario, calculate the ensuing surplus. Claire is trying to sell her used calculus textbook online. …
  9. Econ

    I think it is A & C, but am not sure.. In a perfectly competitive market in which no market failure occurs and no government policy interferes with the equilibrium price and quantity: a. deadweight loss is zero b. the sum of producer …
  10. micro economics

    Assume short-run demand and supply curves for dry cleaning have the usual slopes, and each unit produced requires some amount of labour and exactly 1 unit of dry-cleaning fluid. What will be the short-run result of a decrease in the …

More Similar Questions