101 lecture 8
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The document discusses economic concepts like consumer surplus, producer surplus, market demand and supply, and how government policies like price floors and ceilings can cause deadweight loss. It provides graphs to illustrate these concepts and how consumer and producer surpluses are calculated in competitive markets and under different price interventions.
101 lecture 8
- 1. Microeconomics Lecture 8 Economic Surplus Deadweight Loss
- 2. Economic Surplus Consumer Producer
- 3. Market Demand for Pizza Highest Price Consumer Willing to Pay Austin $10 Brittany $9 Carl $8 Duane $7 Ed $6
- 5. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 6. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 7. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 8. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 9. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 10. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 11. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 Price $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 12. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 Price $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 13. Market Demand for Pizza Highest Price Consumer Consumer Price Willing to Pay Surplus Austin $10 $5 $5 Brittany $9 $5 $4 Carl $8 $5 $3 Duane $7 $5 $2 Ed $6 $5 $1 Summary $40 $25 $15
- 14. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 Price $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 15. $10.00 $9.00 $8.00 $7.00 Price $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 16. $10.00 $9.00 $8.00 Price $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 17. Market Demand for Pizza Highest Price Consumer Consumer Price Willing to Pay Surplus Austin $10 $7.50 $2.50 Brittany $9 $7.50 $1.50 Carl $8 $7.50 $0.50 Duane $7 $7.50 -$0.50 Ed $6 $7.50 -$1.50 Summary
- 18. Market Demand for Pizza Highest Price Consumer Consumer Price Willing to Pay Surplus Austin $10 $7.50 $2.50 Brittany $9 $7.50 $1.50 Carl $8 $7.50 $0.50 Duane $7 $7.50 -$0.50 Ed $6 $7.50 -$1.50 Summary
- 19. Market Demand for Pizza Highest Price Consumer Consumer Price Willing to Pay Surplus Austin $10 $7.50 $2.50 Brittany $9 $7.50 $1.50 Carl $8 $7.50 $0.50 Duane $7 $7.50 -$0.50 Ed $6 $7.50 -$1.50 Summary $27 $22.50 $4.50
- 20. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 21. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 Austin 2 Brittany 3 Carl 4 Duane 5 Ed
- 22. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 2 3 4 5
- 23. Market Supply for Pizza Producer Pizza Cost 1 $3 2 $4 3 $5 4 $6 5 $7
- 25. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0 1 2 3 4 5
- 26. $10.00 $9.00 $8.00 $7.00 $6.00 $5.00 Price $4.00 $3.00 $2.00 $1.00 $0 1 2 3 4 5
- 27. Market Supply for Pizza Producer Pizza Cost Price Surplus 1 $3 $5 $2 2 $4 $5 $1 3 $5 $5 $0 4 $6 $5 -$1 5 $7 $5 -$2 Summary
- 28. Market Supply for Pizza Producer Pizza Cost Price Surplus 1 $3 $5 $2 2 $4 $5 $1 3 $5 $5 $0 4 $6 $5 -$1 5 $7 $5 -$2 Summary
- 29. Market Supply for Pizza Producer Pizza Cost Price Surplus 1 $3 $5 $2 2 $4 $5 $1 3 $5 $5 $0 4 $6 $5 -$1 5 $7 $5 -$2 Summary $12 $15 $3
- 30. $10 $8 $7 $5 $3 $2 $0 10,000 20,000
- 31. $10 $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 32. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 33. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 34. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 35. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 36. $10 Supply Government- Imposed $8 Minimum Price $7 $5 $3 $2 Demand $0 10,000 20,000
- 37. $10 Supply Government- Imposed $8 Minimum Price $7 $5 $3 $2 Demand $0 10,000 20,000
- 38. $10 Supply Government- Imposed $8 Minimum Price $7 $5 $3 $2 Demand $0 10,000 20,000
- 39. $10 Supply Government- Imposed $8 A Minimum Price $7 B E $5 F $3 C $2 D Demand $0 10,000 20,000
- 40. $10 Supply Government- Imposed $8 A Minimum Price $7 B E $5 F $3 C $2 D Demand $0 10,000 20,000
- 41. $10 Supply Government- Imposed $8 A Minimum Price $7 B E $5 F $3 C $2 D Demand $0 10,000 20,000
- 42. $10 Supply Government- Imposed $8 A Minimum Price $7 B E Deadweight $5 Loss $25,000 F $3 C $2 D Demand $0 10,000 20,000
- 43. $10 $8 $7 $5 $3 $2 $0 10,000 20,000
- 44. $10 $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 45. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 46. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 47. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 48. $10 Supply $8 $7 $5 $3 $2 Demand $0 10,000 20,000
- 49. $10 Supply $8 $7 $5 $3 Government- Imposed Maximum Price $2 Demand $0 10,000 20,000
- 50. $10 Supply $8 $7 $5 $3 Government- Imposed Maximum Price $2 Demand $0 10,000 20,000
- 51. $10 Supply $8 A $7 B E $5 F $3 C Government- Imposed Maximum Price $2 D Demand $0 10,000 20,000
- 52. $10 Supply $8 A $7 B E $5 F $3 C Government- Imposed Maximum Price $2 D Demand $0 10,000 20,000
- 53. $10 Supply $8 A $7 B E $5 F $3 C Government- Imposed Maximum Price $2 D Demand $0 10,000 20,000
- 54. $10 Supply $8 A $7 B E Deadweight $5 Loss $25,000 F $3 C Government- Imposed Maximum Price $2 D Demand $0 10,000 20,000
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