Question.5174 - 1. Using an example from the video, explain Consumer Surplus. 2. Using an example from the video, explain Producer Surplus.
Answer Below:
Consumer surplus is the difference between what a consumer is willing to pay for a product and what they actually pay. In the YouTube video, Sam was w...
Consumer xxxxxxx is xxx difference xxxxxxx what x consumer xx willing xx pay xxx a xxxxxxx and xxxx they xxxxxxxx pay xx the xxxxxxx video xxx was xxxxxxx to xxxxx on x lock xx hair xxx he xxxxx since xxx market xxxxxxxxxxx price xxx His xxxxxxxx surplus xx Similarly xxxxxxx consumer xxxxxxx was xx he xxx willing xx spend xxx only xxxx Producer xxxxxxx is xxx difference xxxxxxx what x producer xx willing xx accept xxx a xxxxxxx and xxx actual xxxxx received xxxxx Clifford xxx seller xx the xxxxxxx video xxx prepared xx sell x lock xx hair xxx as xxxxxx as xxx the xxxxxx rate xxx Therefore xx made xxxx for xxxxx unit xxxx as x producer xxxxxxx In xxxxx to xxxxx his xxxxxxxx surplus xx would xxxx more xxxxx at xxxxxx higher xxxx the xxxxxxx acceptable xxxxx
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