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IB Economics SL 2.3.4 Consumer and Producer Surplus Questions

Practise defining and diagramming consumer and producer surplus as the areas above or below equilibrium price under demand and supply curves.

Syllabus
First assessment 2022
Course
Economics SL
Level
SL

Exam points

  • Define and locate consumer surplus above equilibrium price and below the demand curve.
  • Define and locate producer surplus below equilibrium price and above the supply curve.
  • Use a labelled market diagram to show consumer and producer surplus.

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