388402
Descrição
Mapa Mental por lucyhacking, atualizado more than 1 year ago
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Criado por lucyhacking
aproximadamente 11 anos atrás
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Producer/Consumer surplus
- Producer surplus: The difference
between the price a producer is willing
to accept and what is actually paid
- A fall in price reduces producer surplus,
rise in price increases producer surplus
- Total revenue= P1xQ1
- A fall in price reduces producer surplus,
rise in price increases producer surplus
- A change in producer surplus
- caused by an improvement in production technology or a fall in the cost of raw materials and
components used in the production of a good or service
- Factors affecting supply: coat of production, size
+nature of the industry
- Increase in supply: technological advance,
reduction in th rate of indirect taxation
- Consumer surplus: Extra amount that a
consumer is willing to pay for a product above
the price that is actually paid
- A fall in price results to an increase in consumer surplus
- A fall in price results to an increase in consumer surplus
- Factors affecting demand
- Consumer income
- Real disposable income
- Normal goods: income increases,
demand increases
- Inferior goods: Income
increases, demand decreases
- Real disposable income
- Price of other products
- Substitutes: Competing goods
- Complements: Goods for which
there's joint demand
- Substitutes: Competing goods
- Tastes+Fashion
- Producers only advertise if they believe it has
positive effect on demand
- Producers only advertise if they believe it has
positive effect on demand
- Consumer income
- Decrease in supply: less of a
product being supplied at the
same price, increase in the rate of
indirect taxation
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