Consumer Surplus, Producer Surplus, and Deadweight Loss Activity

Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
Consumer Surplus, Producer Surplus, and Deadweight Loss Activity
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Teaching students about consumer surplus, producer surplus, and deadweight loss can be tough. We get it, and we're here to help! This activity has EVERYTHING you need to get the job done!

This activity includes:

1) This "Consumer Surplus, Producer Surplus, and Deadweight Loss" Activity includes 7 parts. It begins by asking your students to define consumer surplus and the buyer's maximum price, and requires students to identify the area of consumer surplus on a graph provided. Students are then asked to explain how changes in market price and quantity will impact consumer surplus in the market. Then, students will practice calculating consumer surplus using several sets of equilibrium prices provided. Next, students are asked to define producer surplus and the seller's minimum price, and are required to identify the area of producer surplus on a graph provided. Students are then asked to explain how changes in market price and quantity will impact producer surplus in the market. Then, students will practice calculating producer surplus using several sets of equilibrium prices provided. Next, students are asked to define deadweight loss and then explain how the presence of deadweight loss implies that a market is allocatively inefficient. Students will then be required to identify the areas of consumer surplus, producer surplus, and deadweight loss on a graph provided. After that, students will practice calculating consumer surplus, producer surplus, and deadweight loss using data provided. Finally, students will use their knowledge to analyze 5 product markets and predict how government intervention will impact price and quantity. Students will graph the intervention, shade the areas of CS, PS, and DWL, and calculate the consumer surplus, producer surplus, and deadweight loss in the market.

This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.

2) A detailed answer key to the lesson activity to save you time and help guide student comprehension.

If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.

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Best of all, this activity aligns to our "Unit 1.6 - Consumer Surplus, Producer Surplus, and Deadweight Loss" video lecture, which can be found here:

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Total Pages
16 pages
Answer Key
Included
Teaching Duration
90 minutes
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$5.00
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