Microeconomics Practice Problem - Using the Consumer Surplus Equation

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This video shows how to calculate consumer surplus based on willingness to pay and price and also how to deduce willingness to pay from consumer surplus and price. The problem is taken from Principles of Microeconomics, 6th Edition, by N. Gregory Mankiw, and is Ch. 7 problem #1. See the "Practice Problems" playlist for an archive of daily practice problems.

By Jodi Beggs - Economists Do It With Models
  1. jodiecongirl
  2. economic surplus
  3. consumer surplus
  4. willingness to pay
  5. economics
  6. economics 101
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Thank's a lot !!! this is wonderful and very helpful

MrMiles
Автор

If it cost $80 and she pays $120 she's agreeing to pay $40 in tax, that's not too painful to be left alone, I don't know what your on about, explain in English please.

davidholdsworth