Producer and consumer surplus

IB Economics: Producer and consumer surplus

This is a short section on consumer and producer surplus. A simple way to introduce this topic is to write the name of a popular brand on the white board. This could be a basic food item or popular drink or a consumer durable such as a smart phone. Then select a couple of volunteers and ask them how much they would be willing and able to purchase the good for. Then select a range of prices so that your students can...

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