Consumer and Producer Surplus

Read this article and attempt several practical problems related to consumer and producer surplus by answering the "Try It" quiz questions. Check your answers after you're done.

7. TRY IT

Consider the market for corn flour below. What is the producer surplus?

Try It Image 3

    • $6,000
    • $2,000
    • $4,000

Consider the market for corn flour below. What is the social surplus?

Image 4

    • $4,000
    • $12,000
    • $6,000