
producer consumer surplus
Authored by Harry Durant
Mathematics, Other
12th Grade
16 Questions
CCSS covered
Used 6+ times

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1.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
Producer Surplus is the area
Below the price and above the supply curve
Under the supply curve
Between the supply and demand curves
Under the demand curve, and above the price
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The seller is willing to sell a product ONLY if the seller receives a price that is at least as great as
The average willingness to pay of the buyer's of the product
The seller's profit
The seller's producer surplus
The seller's cost of production
Tags
CCSS.HSA.SSE.A.1
CCSS.HSA.CED.A.1
CCSS.HSA.CED.A.3
CCSS.HSA.REI.B.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The area below a demand curve and above the price measures
Producer surplus
Willingness to pay
Consumer surplus
Excess supply
4.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
Other things being equal, if the price of a good falls, the consumer surplus
May increase, decrease, or remain unchanged
Increases
Is unchanged
Decreases
Tags
CCSS.HSA.SSE.A.1
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Yaz produces nails at a cost of $200 per ton. If he sells nails for $350 per ton, his producer surplus per ton is
$200
$350
$150
$550
Tags
CCSS.HSA.SSE.A.1
6.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
In a market, total surplus is
Greater than the sum of consumer surplus plus producer surplus
Equal to the consumer's willingness to pay plus producer's cost
Equal to the total cost to sellers minus the total value to buyers
Equal to producer surplus plus consumer surplus
Tags
CCSS.HSA.SSE.A.1
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Producer surplus is
Measured using the demand curve for a good
Always a negative number for sellers in a competitive market
The amount a seller is paid minus the cost of production/opportunity cost
The opportunity cost minus the cost of producing goods that go unsold
Tags
CCSS.HSA.SSE.A.1
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