Explain how a price change affects consumer surplus and producer surplus

Explain how a price change affects consumer surplus and producer surplus

Free markets generally lead to the greatest amount of combined producer and consumer surplus.

Identify a good commonly purchased at a grocery store.

Explain how a price change affects consumer surplus and producer surplus.

Explain what would happen to producer and consumer surplus if the price were other than the market price.

include a reference APA style

Requirements: 250 words   |   .doc file

Answer preview:

word limit: 282