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EnglandEconomicsQuick questions
Microeconomics: Markets and the price system
Quick questions on Consumer and producer surplus - Eduqas A-Level Economics (A520)
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
On a demand-and-supply diagram, shade and label consumer surplus and producer surplus at the market equilibrium. [3 marks]
What is q2?Show answer
Explain why total economic welfare is said to be maximised at the free-market equilibrium of a competitive market. [4 marks]
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