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Consumer and producer surplus

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Question 14

The diagram below shows the market for premium organic cocoa. The market equilibrium shifts from point E1 E_1\,E1​ to point E2 E_2\,E2​ following an adverse weather shock (severe drought) in the growing regions.

Market for organic cocoa

Which area represents the new producer surplus?

KCE1KCE_1KCE1​

ZDE2ZDE_2ZDE2​

LDE2LDE_2LDE2​

ZCE1ZCE_1ZCE1​

Consumer and producer surplus Questions

  1. A Level
  2. /Economics
  3. /Consumer and producer surplus