Back
Chapter 10
Consumer and Producer's Surplus
Multiple Choice Questions
1. The concept of consumer's surplus was originally developed by
āĻāĻĒāĻোāĻ্āϤাā§° āĻāĻĻ্āĻŦৃāϤ্āϤ⧰ āϧাā§°āĻŖাāĻো āĻŽূāϞāϤঃ āĻāϝ়াā§° āĻĻ্āĻŦাā§°া āĻŦিāĻāĻļিāϤ āĻā§°া āĻšৈāĻিāϞ
(a) Marshall
āĻŽাā§°্āĻļ্āĻŦেāϞ
(b) Pigou
āĻĒিāĻু
(c) A.J. Dupuit
āĻ.āĻে. āĻĄুāĻĒুāĻāĻ
(d) J.R. Hicks
āĻে āĻā§° āĻšিāĻ্āϏ
Answer: (c) A.J. Dupuit (āĻ.āĻে. āĻĄুāĻĒুāĻāĻ)।
2. Consumer's surplus is availabe from the units of a commodity that are
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻāĻা āϏাāĻŽāĻ্ā§°ীā§° āĻāĻāĻā§° āĻĒā§°া āĻĒ্ā§°াāĻĒ্āϤ āĻšāϝ় āϝিāĻŦোā§° āĻšৈāĻে
(a) Intra-marginal
āĻāύ্āϤঃ-āĻĒ্ā§°াāύ্āϤিāĻ
(b) marginal
āĻĒ্ā§°াāύ্āϤিāĻ
(c) Post-marginal
āĻĒোāώ্āĻ-āĻŽাā§°্āĻিāύেāϞ
Answer: (a) Intra-marginal (āĻāύ্āϤঃ-āĻĒ্ā§°াāύ্āϤিāĻ)।
3. If the price of a commodity falls, the consumer's surplus from it
āϝāĻĻি āϏাāĻŽāĻ্ā§°ী āĻāĻাā§° āĻŽূāϞ্āϝ āĻš্ā§°াāϏ āĻšāϝ়, āĻāϝ়াā§° āĻĒā§°া āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ
(a) Rises
āĻāϤ্āĻĨাāύ
(b) Falls
āĻāϞāĻĒ্ā§°āĻĒাāϤ
(c) Remains unchanged
āĻ
āĻĒā§°িā§ąā§°্āϤিāϤ āĻšৈ āĻāĻে
Answer: (a) Rises (āĻāϤ্āĻĨাāύ)।
4. In case of pain economy, the consumer's surplus is
āĻŦিāώ āĻ
ā§°্āĻĨāύীāϤিā§° āĻ্āώেāϤ্ā§°āϤ, āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻšৈāĻে
(a) Measurable
āĻĒā§°িāĻŽাāĻĒāϝোāĻ্āϝ
(b) Not measurable
āĻĒā§°িāĻŽাāĻĒāϝোāĻ্āϝ āύāĻšāϝ়
(c) Neither of the two.
āĻĻুāϝ়োāĻাā§° āĻোāύোāĻোā§ąেāĻ āύāĻšāϝ়।
Answer: (b) Not measurable (āĻĒā§°িāĻŽাāĻĒāϝোāĻ্āϝ āύāĻšāϝ়)।
5. Producer's surplus is the excess of market price over
āĻā§āĻĒাāĻĻāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻšৈāĻে āĻŦāĻাā§°ā§° āĻŽূāϞ্āϝ⧰ āĻ
āϤিā§°িāĻ্āϤ āϤাāϤāĻৈ āĻ
āϧিāĻ
(a) MU
āĻāĻŽāĻāĻ
(b) MR
āĻāĻŽāĻā§°
(c) MC
āĻāĻŽāĻি
Answer: (c) MC (āĻāĻŽāĻি)।
Very Short Answer Type Questions
āĻ
āϤি āĻāĻŽু āĻāϤ্āϤ⧰⧰ āĻĒ্ā§°āĻļ্āύ
1. Define consumer's surplus.
āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
2. What happens to consumer's surplus, if the price of the given commodity falls?
āϝāĻĻি āĻĒ্ā§°āĻĻāϤ্āϤ āϏাāĻŽāĻ্ā§°ীā§° āĻŽূāϞ্āϝ āĻš্ā§°াāϏ āĻšāϝ়, āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖā§° āĻি āĻš'āĻŦ?
Answer:
3. How is consumer's surplus measured through the cardinal utility approach ?
āĻŽুāĻ্āϝ āĻāĻĒāϝোāĻিāϤা āĻĒāĻĻ্āϧāϤিā§° āĻā§°িāϝ়āϤে āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻেāύেāĻĻā§°ে āĻোāĻা āĻšāϝ়?
Answer:
4. On which law of utility is the concept of consumer's surplus based?
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻো āĻোāύāĻো āĻāĻĒāϝোāĻিāϤাā§° āύিāϝ়āĻŽā§° āĻāĻĒā§°āϤ āĻāϧাā§°িāϤ?
Answer:
5. What is meant by producer's surplus?
āĻĒ্ā§°āϝোāĻāĻā§° āĻāĻĻ্āĻŦৃāϤ্āϤ⧰ āĻ
ā§°্āĻĨ āĻি?
Answer:
Short Answer Type Questions
āĻāĻŽু āĻāϤ্āϤ⧰āĻĒ্ā§°āĻাā§°ā§° āĻĒ্ā§°āĻļ্āύ
1. What is meant by consumer's surplus?
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ ā§° āĻ
ā§°্āĻĨ āĻি?
Answer:
2. What are the assumptions of consumer's surplus ?
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖā§° āϧাā§°āĻŖাāĻŦোā§° āĻি?
Answer:
3. What is meant by price-compensating variation in income ?
āĻāĻĒাā§°্āĻāύ⧰ āĻŽূāϞ্āϝ-āĻ্āώāϤিāĻĒূā§°āĻŖā§° āϤাā§°āϤāĻŽ্āϝ⧰ āĻ
ā§°্āĻĨ āĻি?
Answer:
4. Give the meaning of quantity compensating variation in income:
āĻāĻĒাā§°্āĻāύ⧰ āĻĒā§°িāĻŽাāĻŖ āĻ্āώāϤিāĻĒূā§°āĻŖā§° āϤাā§°āϤāĻŽ্āϝ⧰ āĻ
ā§°্āĻĨ āĻĻিāϝ়āĻ:
Answer:
5. Define price-equivalent variation in income.
āĻāĻĒাā§°্āĻāύ⧰ āĻŽূāϞ্āϝ-āϏāĻŽāϤুāϞ্āϝ āϤাā§°āϤāĻŽ্āϝ āύিā§°্āϧাā§°āĻŖ āĻā§°া।
Answer:
6. What is the meaning of quantity-equivalent variation in income?
āĻāĻĒাā§°্āĻāύ⧰ āĻĒā§°িāĻŽাāĻŖ-āϏāĻŽāϤুāϞ্āϝ āϤাā§°āϤāĻŽ্āϝ⧰ āĻ
ā§°্āĻĨ āĻি?
Answer:
7. What are the theoretical weaknesses of consumer's surplus?
āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ ā§°āĻাā§° āϤাāϤ্āϤ্āĻŦিāĻ āĻĻুā§°্āĻŦāϞāϤাāĻŦোā§° āĻি?
Answer:
8. Mention the limitations of consumer's surplus.
āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖā§° āϏীāĻŽাāĻŦāĻĻ্āϧāϤা āĻāϞ্āϞেāĻ āĻā§°া।
Answer:
9. How can producer's surplus be measured?
āĻĒ্ā§°āϝোāĻāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻেāύেāĻৈ āĻোāĻা āϝাāϝ়?
Answer:
10. What is the effect of indirect taxes and subsidies upon consumer's surplus and producer's surplus?
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āĻā§°ু āĻā§āĻĒাāĻĻāĻā§° āĻāĻĻ্āĻŦৃāϤ্āϤ⧰ āĻāĻĒā§°āϤ āĻĒā§°োāĻ্āώ āĻā§° āĻā§°ু ā§°াāĻāϏাāĻšাāϝ্āϝ⧰ āĻĒ্ā§°āĻাā§ą āĻি?
Answer:
Long Answer Type Questions
āĻĻীāĻāϞীāϝ়া āĻāϤ্āϤ⧰⧰ āĻĒ্ā§°āĻļ্āύ
1. Discuss the concept of consumer's surplus through cardinal utility approach.
āĻাā§°্āĻĄিāύেāϞ āĻāĻāĻিāϞিāĻি āĻĒāĻĻ্āϧāϤিā§° āĻā§°িāϝ়āϤে āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻো āĻāϞোāĻāύা āĻā§°া।
Answer:
2. How consumer's surplus is measured through the ordinal utility approach ?
āĻ
ā§°্āĻĄিāύেāϞ āĻāĻāĻিāϞিāĻি āĻĒāĻĻ্āϧāϤিā§° āĻā§°িāϝ়āϤে āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻেāύেāĻĻā§°ে āĻোāĻা āĻšāϝ়?
Answer:
3. Distinguish between total utility and marginal utility. In what way is consumer's surplus based upon the distinction between them?
āĻŽুāĻ āĻāĻĒāϝোāĻিāϤা āĻā§°ু āĻĒ্ā§°াāύ্āϤিāĻ āĻāĻĒāϝোāĻিāϤাā§° āĻŽাāĻāϤ āĻĒাā§°্āĻĨāĻ্āϝ āĻā§°āĻ। āϤেāĻঁāϞোāĻā§° āĻŽাāĻā§° āĻĒাā§°্āĻĨāĻ্āϝ⧰ āĻāĻĒā§°āϤ āĻāϧাā§°িāϤ āĻā§°ি āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻেāύেāϧ⧰āĻŖে?
Answer:
4. Do you think the concept of consumer's surplus is realistic ?
āĻāĻĒুāύি āĻাāĻŦেāύে āϝে āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻো āĻŦাāϏ্āĻ¤ā§ąিāĻ?
Answer:
5. Explain the meaning and measurement of producer's surplus.
āĻā§āĻĒাāĻĻāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖā§° āĻ
ā§°্āĻĨ āĻā§°ু āĻোāĻ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
6. Analyse the effects of price control and rationing upon the consumer and producer's surplus.
āĻ্ā§°াāĻšāĻ āĻā§°ু āĻā§āĻĒাāĻĻāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻŽূāϞ্āϝ āύিāϝ়āύ্āϤ্ā§°āĻŖ āĻā§°ু ā§°েāĻāύ⧰ āĻĒ্ā§°āĻাā§ąāĻŦিāĻļ্āϞেāώāĻŖ āĻā§°া।
Answer:
Very Long Answer Type Questions
āĻ
āϤি āĻĻীāĻāϞীāϝ়া āĻāϤ্āϤ⧰⧰ āĻĒ্ā§°āĻļ্āύ
1. Explain Mashallian concept of consumer's surplus ? What are its underlying assumptions ? Mention some practical applications of the concept of consumer's surplus.
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ ā§° āĻŦিāώāϝ়ে āĻŽাāĻļ্āĻŦাāϞিāϝ়াāύ āϧাā§°āĻŖাāĻো āĻŦ্āϝাāĻ্āϝা āĻā§°িāĻŦ āύেāĻি? āĻāϝ়াā§° āĻ
āύ্āϤ⧰্āύিāĻšিāϤ āϧাā§°āĻŖাāĻŦোā§° āĻি? āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻোā§° āĻিāĻুāĻŽাāύ āĻŦ্āĻ¯ā§ąāĻšাā§°িāĻ āĻĒ্ā§°āϝ়োāĻ āĻāϞ্āϞেāĻ āĻā§°া।
Answer:
2. What is consumer's surplus ? What are the problem in its measurement ?
āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖ āĻিāĻŽাāύ? āĻāϝ়াā§° āĻোāĻāϤ āϏāĻŽāϏ্āϝাāĻো āĻি?
Answer:
3. Discuss Hicksian measurement of consumer's surplus through indifference curves.
āĻāĻĻাāϏীāύāϤা āĻŦāĻ্ā§°ā§° āĻā§°িāϝ়āϤে āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻĒā§°িāĻŽাāĻŖā§° āĻšিāĻ্āϏিāϝ়াāύ āĻোāĻ āĻāϞোāĻāύা āĻā§°া।
Answer:
4. Critically examine the concept of consumer's surplus.
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻো āĻুā§°ুāϤ্āĻŦāĻĒূā§°্āĻŖāĻাā§ąে āĻĒā§°ীāĻ্āώা āĻā§°া।
Answer:
5. Explain Hicksian conceptions of compensating and equivalent variations in income.
āĻ্āώāϤিāĻĒূā§°āĻŖā§° āĻšিāĻāĻিāϝ়াāύ āϧাā§°āĻŖা āĻā§°ু āĻāĻĒাā§°্āĻāύ⧰ āϏāĻŽāϤুāϞ্āϝ āϤাā§°āϤāĻŽ্āϝ āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
6. What are the limitations of the concept of consumer's surplus ? Give its importance.
āĻāĻĒāĻোāĻ্āϤাā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻোā§° āϏীāĻŽাāĻŦāĻĻ্āϧāϤাāĻŦোā§° āĻি? āĻāϝ়াā§° āĻুā§°ুāϤ্āĻŦ āĻĻিāϝ়া।
Answer:
7. Explain clearly the concept of producer's surplus.
āĻĒ্ā§°āϝোāĻāĻā§° āĻ
āϤিā§°িāĻ্āϤ āϧাā§°āĻŖাāĻো āϏ্āĻĒāώ্āĻāĻাā§ąে āĻŦā§°্āĻŖāύা āĻā§°া।
Answer:
8. What are the effects of government policies upon consumer's surplus and producer's surplus?
āĻ্ā§°াāĻšāĻā§° āĻ
āϤিā§°িāĻ্āϤ āĻā§°ু āĻā§āĻĒাāĻĻāĻā§° āĻāĻĻ্āĻŦৃāϤ্āϤ⧰ āĻāĻĒā§°āϤ āĻā§°āĻাā§°ী āύীāϤিā§° āĻĒ্ā§°āĻাā§ą āĻি?
Answer:
9. Analyse the impact of market interventions by the government upon the market efficiency and welfare of the society.
āĻŦāĻাā§°ā§° āĻĻāĻ্āώāϤা āĻā§°ু āϏāĻŽাāĻā§° āĻāϞ্āϝাāĻŖā§° āĻāĻĒā§°āϤ āĻā§°āĻাā§°ā§° āĻĻ্āĻŦাā§°া āĻŦāĻাā§°ā§° āĻšāϏ্āϤāĻ্āώেāĻĒā§° āĻĒ্ā§°āĻাā§ą āĻŦিāĻļ্āϞেāώāĻŖ āĻā§°া।
Answer:
Post ID : DABP003335