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Jerami Joseph
on Oct 25, 2024

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Exports increase producer surplus but decrease consumer surplus and total surplus.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, typically represented by the area above the supply curve and below the market price.

Consumer Surplus

The variance between the amount consumers are inclined to pay for a good or service and what they actually pay.

  • Determine the impacts of global trade on the surplus of producers and consumers.
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kanwar dhillonNov 01, 2024
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