Consumers’ and Producers’ Surplus.

Yesterday we introduced the concepts of Consumers’ and Producers’ Surplus. Today, please view the two example videos below and then work in groups to complete the problems from the green 6.7 Exercises sheet.

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Please note that the problem numbers mentioned in the video do not match the problem numbers on your green sheet, however, if you copy the solutions down now, they do match two of the problems I’m assigning 🙂

Speaking of the assignment, please do #1-7 from the green exercises sheet.