Consumer and Producer Surplus I A Level and IB Economics

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This topic video introduces students to consumer and producer surplus and looks at how shifts in market demand and supply affect consumer and producer surplus.

#aqaeconomics #ibeconomics #edexceleconomics
  1. tutor2u
  2. consumer surplus
  3. producer surplus
  4. economic welfare
  5. Year 1 microeconomics
  6. tutor2u
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tutoru-official
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very nicely explained. Why did you miss what happens to producer surplus when supply is elastic or inelastic?

engineer_yulan
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why is producer surplus on the graph QRS and not QPS?

katieflint
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Why would a low ped mean a higher consumer surplus. Wouldn't that mean less revenue for the producer. Wouldn't they maximize their revenue with a lower consumer surplus since consumers are not responsive to a change in price?

TiannaBerry