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【正文】 ss to pay Figure 2 Measuring Consumer Surplus with the Demand Curve Copyright169。2023 Southwestern/Thomson Learning (b) Price = $70 Price of Album 50 70 80 0 $100 Demand 1 2 3 4 Total consumer surplus ($40) Quantity of Albums John ’ s consumer surplus ($30) Paul ’ s consumer surplus ($10) Copyright 169。2023 Southwestern/Thomson Learning Consumer surplus Quantity (a) Consumer Surplus at Price P Price 0 Demand P1 Q1 B A C Figure 3 How the Price Affects Consumer Surplus Copyright169。 2023 SouthWestern What Does Consumer Surplus Measure? ? Consumer surplus, the amount that buyers are willing to pay for a good minus the amount they actually pay for it, measures the benefit that buyers receive from a good as the buyers themselves perceive it. Copyright 169。2023 SouthWestern Copyright 169。 2023 SouthWestern The Supply Schedule and the Supply Curve Figure 4 The Supply Schedule and the Supply Curve Copyright 169。2023 Southwestern/Thomson Learning Quantity of Houses Painted Price of House Painting 500 800 $900 0 600 1 2 3 4 (a) Price = $600 Supply Grandma ’ s producer surplus ($100) Figure 5 Measuring Producer Surplus with the Supply Curve Copyright169。2023 Southwestern/Thomson Learning Producer surplus Quantity (a) Producer Surplus at Price P Price 0 Supply B A C Q1 P1 Figure 6 How the Price Affects Producer Surplus Copyright169。 2023 SouthWestern MARKET EFFICIENCY ? Consumer surplus and producer surplus may be used to address the following question: ? Is the allocation of resources determined by free markets in any way desirable? Copyright 169。 2023 SouthWestern MARKET EFFICIENCY Total surplus = Consumer surplus + Producer surplus or Total surplus = Value to buyers – Cost to sellers Copyright 169。 2023 SouthWestern MARKET EFFICIENCY ? In addition to market efficiency, a social planner might also care about equity – the fairness of the distribution of wellbeing among the various buyers and sellers. Figure 7 Consumer and Producer Surplus in the Market Equilibrium Copyright169。 2023 SouthWestern MARKET EFFICIENCY ? Three Insights Concerning Market Outes ? Free markets allocate the supply of goods to the buyers who value them most highly, as measured by their willingness to pay.
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