Q&A 2.3 Competitive Market Equilibrium by Mr Kelly https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw en-us 2021-10-21 06:04:02 UTC 2025-09-24 17:07:30 UTC hello@padlet.com ASK ME ANYTHING YOU LIKE kmatthew6_1 https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1832822414 Ask me anything you like about chapter 2.3 Competitive Market Equilibrium


]]> 2021-10-21 07:53:57 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1832822414 https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1853682040 Is the consumer and producer surplus always equal when at equilibrium? ]]> 2021-10-29 11:04:44 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1853682040 Can you please explain why consumer surplus rises even when there is an increase in price? https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1855283266 2021-10-30 08:52:57 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1855283266 https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1855417011 I thought DWL was just the lost revenue due to the taxation of the product but when I asked my Mom about it, she talked about how it had more to do with the collective loss of the producers and consumers as the consumers had to purchase at a higher price whilst the producers couldn't produce as much product.]]> 2021-10-30 11:54:59 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1855417011 Producer surplus https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1858511298 In this graph for the producer surplus, if the producer said "we cannot decrease the price any further below than 5 dollars." Does this mean that the producer surplus triangle will be cut at the price 5 dollars?]]> 2021-11-01 11:48:58 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1858511298 Does the price mechanism happen in steps (1. signaling, 2. incentive, 3. rationing, 4. perfect allocation of resources) ? or does each function happen individually? 2172524 https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1873421604 2021-11-07 21:58:08 UTC https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1873421604 Price ceilings https://padlet.com/kmatthew6_1/f42jlvz76f6mtrbw/wish/1888128795 For price ceilings, does this graph mean the producers can set the price higher than P max but they can only sell at quantity Q1 which I think is contradict to the meaning of price ceiling?


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