Surplus / Premi Konsumen Produsen | Rundown Materi Menuju OSN & UTBK

Summary

This video explains the concepts of consumer surplus and producer surplus within market equilibrium. It covers the different types of buyers and sellers—super marginal, marginal, and sub marginal—and how each group interacts with market prices. The video provides a step-by-step guide on calculating consumer and producer surpluses by using triangle areas on price and quantity graphs. Key calculations include determining the area of the triangles formed by price differences for both consumer and producer surpluses. The overall goal is to help understand how market prices benefit consumers and producers economically.

Takeaways

• 😀 Consumer surplus (or consumer premium) refers to the extra benefit consumers receive when they can buy a product for less than the maximum price they are willing to pay.
• 😀 Producer surplus (or producer premium) is the extra benefit producers receive when they sell a product for more than the minimum price they are willing to accept.
• 😀 There are three types of consumers in the market: Super Marginal, Marginal, and Submarginal. Each type has a different ability to purchase at or above market prices.
• 😀 Super Marginal consumers can buy products above the market price because of higher purchasing power.
• 😀 Marginal consumers can only afford to buy at the equilibrium (market) price, and any increase in price would reduce their ability to purchase.
• 😀 Submarginal consumers cannot afford to buy products at the market price, leading them to reduce or eliminate their purchases.
• 😀 Consumer surplus is calculated as the area of a triangle formed by the equilibrium price, the demand curve, and the price consumers are willing to pay.
• 😀 Producer surplus is the area between the market price and the minimum price producers are willing to accept, calculated similarly to consumer surplus.
• 😀 Super Marginal producers can sell at a price below the market price and still make a profit due to their cost efficiency.
• 😀 Marginal producers can only operate at the equilibrium price, and any drop below it could harm their business.
• 😀 Submarginal producers are unable to compete at the market price and may eventually exit the market due to unprofitability.
• 😀 To calculate surpluses (both consumer and producer), one must find the area of the respective triangles by multiplying base and height and dividing by two.
• 😀 The consumer surplus area is above the market price on the demand curve, while the producer surplus area is below the market price on the supply curve.

Q & A

What is consumer surplus, and how is it related to market equilibrium?

Consumer surplus refers to the benefit or excess value that consumers gain when they are able to purchase a product for a price lower than the maximum price they are willing to pay. In market equilibrium, consumer surplus is represented by the area above the price level and below the demand curve, reflecting the difference between the equilibrium price and the price consumers are willing to pay.

How are super marginal buyers different from marginal buyers?

Super marginal buyers are those who are able to purchase goods even at prices above the equilibrium price (P1). Their purchasing power allows them to still buy, even if the price exceeds the market equilibrium. Marginal buyers, on the other hand, are those who can only purchase the good at the equilibrium price. If the price increases beyond this point, they are unable to buy.

What is the definition of surplus consumer (or premium consumer)?

A surplus consumer, or premium consumer, refers to the extra benefit enjoyed by super marginal buyers who can purchase goods at prices above the equilibrium price. This additional benefit is represented by the area of the triangle formed between the equilibrium price, the demand curve, and the price consumers are willing to pay.

How do you calculate the size of consumer surplus?

To calculate consumer surplus, you need to determine the area of the triangle between the price at equilibrium and the maximum price consumers are willing to pay. The formula is: 1/2 * base * height, where the base is the horizontal distance (difference between the equilibrium price and the price consumers are willing to pay) and the height is the vertical distance (difference between the maximum price consumers are willing to pay and the equilibrium price).

What are the different types of sellers in terms of market equilibrium?

There are three types of sellers: super marginal sellers, marginal sellers, and submarginal sellers. Super marginal sellers are able to sell at prices lower than the equilibrium price, giving them a competitive advantage. Marginal sellers can only sell at the market price and may struggle with price fluctuations. Submarginal sellers are those who sell at prices above the equilibrium price, risking the long-term viability of their business.

How is surplus producer (or premium producer) defined?

Surplus producer, or premium producer, refers to the extra benefit that super marginal sellers gain by selling goods at prices lower than the equilibrium price. This area, known as producer surplus, is represented by the triangle between the equilibrium price, the price at which the seller is willing to sell, and the price received by the seller.

What is the relationship between price and the behavior of submarginal sellers?

Submarginal sellers are those who set prices above the equilibrium price. In the long run, this behavior can lead to a decrease in demand for their goods, as consumers may opt for cheaper alternatives. These sellers face the risk of being driven out of the market due to their inability to compete with those selling at or below the equilibrium price.

How do you calculate the size of producer surplus?

Producer surplus is calculated similarly to consumer surplus. It involves finding the area of the triangle formed between the market equilibrium price and the price at which the producer is willing to sell. The formula is the same as for consumer surplus: 1/2 * base * height, where the base is the difference between the equilibrium price and the price the producer is willing to accept, and the height is the vertical distance between the price received and the minimum price at which the producer is willing to sell.

How does the concept of consumer surplus contribute to understanding market efficiency?

Consumer surplus is a key indicator of market efficiency. It reflects how well the market is serving consumers by providing them with goods at prices lower than what they are willing to pay. The larger the consumer surplus, the more efficient the market is in terms of consumer benefit. This, in turn, helps in evaluating the overall welfare impact of different market structures and policies.

Why is it important to calculate both consumer and producer surplus in economic analysis?

Calculating both consumer and producer surplus helps in understanding the overall welfare implications of market equilibrium. Consumer surplus measures the benefit to consumers from being able to purchase goods at lower prices, while producer surplus measures the benefit to producers from selling at prices that exceed their minimum willingness to sell. Together, these surpluses provide a comprehensive view of how both sides of the market benefit from transactions, which is crucial in policy and market efficiency evaluations.