MACRO ECON 6
6th Edition
ISBN: 9780357689820
Author: MCEACHERN
Publisher: CENGAGE L
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Question
Chapter 8, Problem 2P
Sub-Part
A
To determine
Production possibilities frontier to demonstrate
- The effect of
PPF in next period upon the combination of goods selected in present period.
Sub-Part
B
To determine
Production possibilities frontier to demonstrate economic growth for:
b. More or less growth on choosing different point on PPF.
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3
Producer Surplus, PS
$12
$11
S
Book
Print
rences
Legend
●Demand
● Supply
Price
$10
$9
$8
$7
$6
D
$5
0
1
2 3
4 5 6 7 8
00
Tons of Wheat (in thousands)
9 10
a. Indicate the consumer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Consumer Surplus, CS" to shade in the consumer surplus area on the graph.
b. Indicate the producer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Producer Surplus, PS" to shade in the producer surplus area on the graph.
Figure 4-4
PRICE
a
P
B
Q
a
QUANTITY
Supply
Refer to Figure 4-4. The movement from point A to point B on the graph is called
a decrease in supply.
an increase in supply.
an increase in the quantity supplied.
a decrease in the quantity supplied.
tv
all A
18
not use ai please
Chapter 8 Solutions
MACRO ECON 6
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